Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0192%/8h= −21.1% APRpaid last 24h −0.026%

Price spread now: Injective against Orderly−0.061%58s7-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 Injective

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—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 0.061% cheaper against Orderly than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MNT_USDC	0.6526	0.0100	pay 0.0100% / 8h	2h 36m	$1K	—	10x
Short	Injective MNT/USDC PERP	0.6522	−0.0092	pay 0.0012% / 1h	36m 11s	$3K	$171K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.061%Rate

Funding earned: −$40.37
Price spread: −0.061% → 0.000%: −$6.13
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$52.52
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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	0.6511	−0.228%	$19	—	100x	as long as short
Injective MNT/USDC PERPshort	−0.0092%	1h	0.6522	−0.061%	$3K	$171K	12x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6511	−0.224%	$782	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6521	−0.070%	$6.6M	$896K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6509	−0.260%	$43.0M	$13.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6502	−0.368%	$413K	$115K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6507	−0.291%	$2.5M	$584K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6507	−0.291%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6512	−0.214%	$293K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6513	−0.199%	$11K	$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_USDClong	+0.0100%	8h	0.6526	long leg	$1K	—	10x
BloFin MNT-USDT	+0.0220%	8h	0.6507	−0.291%	$89K	$217K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0228%	1h	0.6516	−0.152%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0611%	1h	0.6513	−0.199%	$40K	$35K	10x	as long as short
Lighter MNT	+0.0680%	1h	0.6528	+0.031%	$139K	$70K	5x	as long as short