Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.103%

Price spread now: Lighter against Variational Omni+0.273%7-day average +0.181% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.219%+$22 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.273%, 7d avg +0.181%

Together, before fees+0.100%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter is 0.092% dearer against Variational Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.181%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MNT	0.6501	0.0100	pay 0.0100% / 8h	30m 43s	$294K	$169K	—
Short	Lighter MNT	0.6519	0.0448	get 0.0056% / 1h	30m 43s	$141K	$69K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.273%Rate

Funding earned: $73.08
Price spread: +0.273% → +0.181%: $9.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $82.28
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 48 min ago; Lighter: live order book, 29 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, 48 min ago	3.85 bp	doesn't fit	68.6 bp −$686	doesn't fit	doesn't fit
Sell Lighter live order book, 29 min ago	9.75 bp	10.9 bp −$11	83.6 bp −$836	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	0.6503	+0.040%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	+0.0007%	1h	0.6501	+0.004%	$10K	$630K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6504	+0.049%	$781	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.388%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6513	+0.188%	$6.6M	$956K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6502	+0.019%	$42.8M	$14.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6477	−0.365%	$405K	$148K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6499	−0.027%	$2.5M	$586K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6498	−0.042%	—	$2.5M	—	as long as short
Variational Omni MNTlong	+0.0100%	8h	0.6501	long leg	$294K	$169K	—

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	+0.111%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6500	−0.012%	$89K	$218K	25x	as long as short
Lighter MNTshort	+0.0448%	1h	0.6519	+0.273%	$141K	$69K	5x
Kraken Futures PF_MNTUSD	+0.0648%	1h	0.6511	+0.163%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0843%	1h	0.6502	+0.019%	$40K	$46K	10x	as long as short