Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against Variational Omni+0.056%7-day average +0.031% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.056%, 7d avg +0.031%

Together, before fees−0.085%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.025% dearer against Variational Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MNT	0.6478	0.0100	pay 0.0100% / 8h	2h 44m	$287K	$110K	—
Short	Bybit MNTUSDT	0.6482	0.0100	get 0.0100% / 8h	2h 44m	$42.7M	$14.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.031%: $2.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.52
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Bybit: live order book, 5 min ago. 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, 5 min ago	5.40 bp	doesn't fit	77.9 bp −$779	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.77 bp	24.7 bp −$25	100.7 bp −$1,007	doesn't fit	doesn't fit

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	0.6481	+0.040%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6481	+0.039%	$778	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.735%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6490	+0.176%	$6.7M	$756K	5x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6482	+0.056%	$42.7M	$14.6M	25x
Gate MNT_USDT	+0.0100%	4h	0.6474	−0.067%	$439K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6477	−0.021%	$2.4M	$105K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6480	+0.025%	—	$2.5M	—	as long as short
Variational Omni MNTlong	+0.0100%	8h	0.6478	long leg	$287K	$110K	—
ApeX Omni MNTUSDT	+0.0100%	1h	0.6480	+0.025%	$11K	$637K	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	0.6487	+0.133%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6479	+0.010%	$90K	$212K	25x	as long as short
Lighter MNT	+0.0392%	1h	0.6499	+0.325%	$148K	$85K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0711%	1h	0.6481	+0.041%	$36K	$57K	10x	as long as short
Kraken Futures PF_MNTUSD	+0.1004%	1h	0.6478	−0.008%	$16K	$39K	20x	as long as short