Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0644%/8h= +70.5% APRpaid last 24h +0.051%

Price spread now: Backpack against Variational Omni+0.052%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Backpack

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Backpack is 0.052% dearer against Variational Omni 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).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MNT	0.6488	0.0100	pay 0.0100% / 8h	1h 02m	$271K	$146K	—
Short	Backpack MNT_USDC_PERP	0.6491	0.0744	get 0.0093% / 1h	2m 42s	$41K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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 Variational OmnibpFee BackpackbpOrdersPrice spread, now +0.052%Rate

Funding earned: $135.28
Price spread: +0.052% → 0.000%: $5.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $130.49
Costs to cover: 0.100%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 16 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 Variational Omni RFQ quote, 16 min ago	3.85 bp	doesn't fit	68.6 bp −$686	doesn't fit	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	0.6492	+0.073%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.592%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6494	+0.103%	$780	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6502	+0.219%	$6.5M	$920K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6489	+0.021%	$42.5M	$14.1M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6474	−0.210%	$409K	$139K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6489	+0.021%	$2.5M	$597K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6486	−0.025%	—	$2.5M	—	as long as short
Variational Omni MNTlong	+0.0100%	8h	0.6488	long leg	$271K	$146K	—
ApeX Omni MNTUSDT	+0.0100%	1h	0.6486	−0.025%	$10K	$632K	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	0.6496	+0.129%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6489	+0.021%	$89K	$222K	25x	as long as short
Lighter MNT	+0.0288%	1h	0.6511	+0.354%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0318%	1h	0.6520	+0.506%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPshort	+0.0744%	1h	0.6491	+0.052%	$41K	$45K	10x