Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0666%/8h= +73.0% APRpaid last 24h −0.088%

Price spread now: Orderly against Kraken Futures+0.214%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Orderly

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 for this trade now. Funding pays +$20 a day on $10k at the current rate, and Orderly is 0.214% dearer against Kraken Futures than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MNTUSD	0.6446	−0.0566	get 0.0071% / 1h	45m 36s	$16K	$28K	20x
Short	Orderly PERP_MNT_USDC	0.6460	0.0100	get 0.0100% / 8h	4h 45m	$1K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.214%Rate

Funding earned: $139.94
Price spread: +0.214% → 0.000%: $21.44
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $145.37
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Kraken Futures and Orderly: 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	0.6452	+0.086%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSDlong	−0.0566%	1h	0.6446	long leg	$16K	$28K	20x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6452	+0.092%	$775	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.238%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6459	+0.199%	$6.6M	$879K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6446	−0.007%	$42.2M	$14.7M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6444	−0.034%	$432K	$173K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6444	−0.034%	$2.4M	$104K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6447	+0.013%	—	$2.5M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6450	+0.059%	$41K	$57K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6446	−0.006%	$286K	$173K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6450	+0.059%	$11K	$643K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6460	+0.214%	$1K	—	10x
BloFin MNT-USDT	+0.0220%	8h	0.6444	−0.034%	$90K	$212K	25x	as long as short
Lighter MNT	+0.0336%	1h	0.6468	+0.335%	$141K	$75K	5x	as long as short