Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0739%/8h= +81.0% APRpaid last 24h +0.053%

Price spread now: Backpack against MEXC+0.046%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.465%+$47 on $10k

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 +$22 a day on $10k at the current rate, and Backpack is 0.046% dearer against MEXC than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.465% in total (about 24.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MNT_USDT	0.6499	0.0100	pay 0.0100% / 8h	31m 43s	$2.5M	$586K	100x
Short	Backpack MNT_USDC_PERP	0.6502	0.0839	get 0.0105% / 1h	31m 43s	$40K	$46K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.046%Rate

Funding earned: $155.29
Price spread: +0.046% → 0.000%: $4.62
Slippage, 4 orders: no order book: not counted
Fee MEXC: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $141.9
Costs to cover: 0.180%
Break-even: 0.6 days

Slippage unknown: MEXC: live order book, 5 min ago; Backpack: 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 MEXC live order book, 5 min ago	0.77 bp	11.5 bp −$12	66.7 bp −$667	112.2 bp −$11.2K	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	0.6503	+0.065%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6503	+0.063%	$781	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.415%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6514	+0.229%	$6.6M	$953K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6503	+0.062%	$42.8M	$14.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6477	−0.339%	$405K	$148K	25x	as long as short
MEXC MNT_USDTlong	+0.0100%	8h	0.6499	long leg	$2.5M	$586K	100x
BingX MNT-USDT	+0.0100%	8h	0.6499	0.000%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6519	+0.312%	$296K	$169K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6516	+0.262%	$11K	$630K	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	0.6508	+0.138%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6494	−0.077%	$89K	$218K	25x	as long as short
Lighter MNT	+0.0448%	1h	0.6520	+0.320%	$142K	$69K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0648%	1h	0.6511	+0.185%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPshort	+0.0839%	1h	0.6502	+0.046%	$40K	$46K	10x