Funding arb · Price arb /

MNT

all MNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.102%

Price spread now: MEXC against Lighter−0.395%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.314%−$31 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.395%, 7d avg −0.157%

Together, before fees−0.091%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and MEXC is 0.238% cheaper against Lighter than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.157%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6512	0.0280	pay 0.0035% / 1h	34m 14s	$140K	$70K	5x
Short	MEXC MNT_USDT	0.6486	0.0100	get 0.0100% / 8h	1h 34m	$2.5M	$594K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.395%Rate

Funding earned: −$37.8
Price spread: −0.395% → −0.157%: −$23.75
Slippage, 4 orders: −$55.36
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$124.91
Costs to cover: 0.634%
Break-even: never at this rate

Slippage from Lighter: live order book, 39 min ago; MEXC: live order book, 3 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, 39 min ago	9.74 bp	30.1 bp −$30	85.8 bp −$858	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.54 bp	9.3 bp −$9	32.3 bp −$323	113.4 bp −$11.3K	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	0.6489	−0.342%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.220%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6491	−0.317%	$779	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6498	−0.217%	$6.6M	$904K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6488	−0.361%	$42.6M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6472	−0.610%	$423K	$124K	25x	as long as short
MEXC MNT_USDTshort	+0.0100%	8h	0.6486	−0.395%	$2.5M	$594K	100x
BingX MNT-USDT	+0.0100%	8h	0.6483	−0.441%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6486	−0.398%	$291K	$123K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6496	−0.241%	$10K	$640K	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	0.6501	−0.164%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6493	−0.287%	$89K	$222K	25x	as long as short
Lighter MNTlong	+0.0280%	1h	0.6512	long leg	$140K	$70K	5x
Kraken Futures PF_MNTUSD	+0.0319%	1h	0.6492	−0.300%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0755%	1h	0.6490	−0.333%	$46K	$43K	10x	as long as short