Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0547%/8h= +59.9% APRpaid last 24h −0.105%

Price spread now: BingX against Kraken Futures−0.049%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.049% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 7 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MNTUSD	0.6471	−0.0447	get 0.0056% / 1h	14m 12s	$16K	$28K	20x
Short	BingX MNT-USDT	0.6468	0.0100	get 0.0100% / 8h	5h 14m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $114.84
Price spread: −0.049% → 0.000%: −$4.85
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $89.98
Costs to cover: 0.200%
Break-even: 1.5 days

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 10 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures no order-book sample	—	—	—	—	—
Sell BingX live order book, 10 min ago	1.54 bp	15.2 bp −$15	80.8 bp −$808	293.0 bp −$29.3K	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MNT on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX MNT/USD [ETH-USDC]	L −0.2622% / S +0.0192%	1h	0.6472	+0.018%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSDlong	−0.0447%	1h	0.6471	long leg	$16K	$28K	20x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6475	+0.056%	$777	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.848%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6484	+0.205%	$6.6M	$878K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6474	+0.046%	$42.4M	$14.8M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6464	−0.110%	$427K	$171K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6472	+0.013%	$2.4M	$105K	125x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6468	−0.049%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6477	+0.086%	$287K	$173K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDT	+0.0100%	1h	0.6480	+0.137%	$11K	$644K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6481	+0.152%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6480	+0.137%	$91K	$212K	25x	as long as short
Lighter MNT	+0.0344%	1h	0.6491	+0.308%	$143K	$75K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0452%	1h	0.6474	+0.044%	$43K	$56K	10x	as long as short