Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0491%/8h= −53.8% APRpaid last 24h −0.120%

Price spread now: Bybit against Kraken Futures−0.046%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 Bybit

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

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MNTUSD	0.6541	0.0591	pay 0.0074% / 1h	39m 15s	$17K	$20K	20x
Short	Bybit MNTUSDT	0.6538	0.0100	get 0.0100% / 8h	7h 39m	$43.0M	$14.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$103.1
Price spread: −0.046% → 0.000%: −$4.56
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$128.66
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	1.53 bp	18.3 bp −$18	90.4 bp −$904	doesn't fit	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	0.6544	+0.046%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6545	+0.060%	$786	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.235%	$3K	$210K	12x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6538	−0.046%	$43.0M	$14.5M	25x
Gate MNT_USDT	+0.0100%	4h	0.6525	−0.250%	$423K	$154K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6543	+0.025%	$2.5M	$587K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6542	+0.009%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6541	−0.006%	$296K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6544	+0.040%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6548	+0.101%	$1K	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MNT	+0.0177%	1h	0.6555	+0.214%	$6.7M	$993K	5x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6537	−0.067%	$89K	$219K	25x	as long as short
Lighter MNT	+0.0512%	1h	0.6558	+0.253%	$141K	$70K	5x	as long as short
Kraken Futures PF_MNTUSDlong	+0.0591%	1h	0.6541	long leg	$17K	$20K	20x
Backpack MNT_USDC_PERP	+0.0791%	1h	0.6546	+0.071%	$38K	$48K	10x	as long as short