Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.100%

Price spread now: BingX against Lighter−0.317%7-day average −0.158% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$890.890% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.305%−$30 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.317%, 7d avg −0.158%

Together, before fees−0.143%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BingX is 0.160% cheaper against Lighter than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.158%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6527	0.0328	pay 0.0041% / 1h	57m 35s	$141K	$67K	5x
Short	BingX MNT-USDT	0.6506	0.0100	get 0.0100% / 8h	57m 35s	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.317%Rate

Funding earned: −$47.88
Price spread: −0.317% → −0.158%: −$15.96
Slippage, 4 orders: −$79.04
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$152.88
Costs to cover: 0.890%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; BingX: live order book, 2 min ago.

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 Lighter live order book, 2 min ago	9.75 bp	37.2 bp −$37	93.1 bp −$931	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	1.54 bp	23.3 bp −$23	86.2 bp −$862	274.8 bp −$27.5K	doesn't fit

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	0.6508	−0.290%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6509	−0.265%	$781	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.011%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6519	−0.115%	$6.6M	$931K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6507	−0.296%	$42.7M	$14.1M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6484	−0.654%	$409K	$139K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6506	−0.317%	$2.5M	$584K	100x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6506	−0.317%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6489	−0.583%	$271K	$146K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6491	−0.547%	$10K	$634K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6509	−0.271%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6492	−0.532%	$89K	$217K	25x	as long as short
Lighter MNTlong	+0.0328%	1h	0.6527	long leg	$141K	$67K	5x
Kraken Futures PF_MNTUSD	+0.0646%	1h	0.6538	+0.177%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0898%	1h	0.6509	−0.271%	$42K	$45K	10x	as long as short