Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0292%/8h= −31.9% APRpaid last 24h −0.082%

Price spread now: GMX against Orderly−0.097%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$9 a day on $10k at the current rate, and GMX is 0.097% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MNT_USDC	0.6543	0.0100	pay 0.0100% / 8h	7h 14m	$1K	—	10x
Short	GMX MNT/USD [ETH-USDC]	0.6537	L −0.2622% / S +0.0192%	pay 0.0024% / 1h	14m 38s	$19	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$61.26
Price spread: −0.097% → 0.000%: −$9.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$89
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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]short	L −0.2622% / S +0.0192%	1h	0.6537	−0.097%	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6535	−0.120%	$785	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.260%	$3K	$210K	12x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6530	−0.194%	$43.1M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6518	−0.382%	$423K	$157K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6530	−0.199%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6528	−0.229%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6531	−0.184%	$295K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6527	−0.245%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDClong	+0.0100%	8h	0.6543	long leg	$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	−0.214%	$89K	$225K	25x	as long as short
Hyperliquid MNT	+0.0242%	1h	0.6545	+0.032%	$6.7M	$980K	5x	as long as short
Lighter MNT	+0.0576%	1h	0.6551	+0.127%	$141K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0589%	1h	0.6563	+0.309%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0708%	1h	0.6531	−0.183%	$38K	$47K	10x	as long as short