Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0476%/8h= −52.1% APRpaid last 24h −0.086%

Price spread now: Orderly against Lighter+0.028%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.028% dearer against Lighter than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6541	0.0576	pay 0.0072% / 1h	13m 28s	$140K	$70K	5x
Short	Orderly PERP_MNT_USDC	0.6543	0.0100	get 0.0100% / 8h	7h 13m	$1K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.028%Rate

Funding earned: −$99.96
Price spread: +0.028% → 0.000%: $2.75
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$103.21
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 41 min ago; 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 Lighter live order book, 41 min ago	7.58 bp	34.0 bp −$34	96.3 bp −$963	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	0.6533	−0.129%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6534	−0.113%	$785	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.232%	$3K	$210K	12x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6519	−0.344%	$43.0M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6503	−0.584%	$422K	$158K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6520	−0.324%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6520	−0.324%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6531	−0.156%	$295K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6531	−0.156%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6543	+0.028%	$1K	—	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MNT-USDT	+0.0220%	8h	0.6529	−0.187%	$89K	$225K	25x	as long as short
Hyperliquid MNT	+0.0243%	1h	0.6534	−0.112%	$6.7M	$981K	5x	as long as short
Lighter MNTlong	+0.0576%	1h	0.6541	long leg	$140K	$70K	5x
Kraken Futures PF_MNTUSD	+0.0589%	1h	0.6562	+0.326%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0700%	1h	0.6525	−0.248%	$38K	$47K	10x	as long as short