Funding you earn now, next payment 23:00 UTC−0.0716%/8h= −78.4% APRnext payment −$0.90 per $10,000 · paid last 24h −0.008%
Price spread now: Hyperliquid against Backpack+0.177%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.146%−$15 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
The price spread pays, funding is against you. Hyperliquid is 0.177% dearer against Backpack than usual: you sell high and buy low (spread +0.177% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.146% in total) that is about 8.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MNT_USDC_PERP | 0.6486 | 0.0816 | pay 0.0102% / 1h | 53m 30s | $48K | $45K | 10x |
| Short | Hyperliquid MNT | 0.6498 | 0.0100 | get 0.0013% / 1h | 53m 30s | $6.6M | $902K | 5x |
Backpack MNT_USDC_PERP
Hyperliquid MNTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$150.44
- Price spread: +0.177% → 0.000%
- $17.73
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$151.71
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Hyperliquid: live order book, 9 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 9 min ago | 0.08 bp | 14.1 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.6490 | +0.066% | $19 | — | 100x | as long as short |
| Injective MNT/USDC PERP | −0.0080% | 1h | 0.6526 | +0.617% | $3K | $210K | 12x | as long as short |
| gTrade (Gains Network) MNT/USD | L +0.0010% / S 0.0000% | 1h | 0.6490 | +0.061% | $779 | — | 150x | as long as short |
| Hyperliquid MNTshort | +0.0100% | 1h | 0.6498 | +0.177% | $6.6M | $902K | 5x | |
| Bybit MNTUSDT | +0.0100% | 8h | 0.6486 | −0.003% | $42.6M | $14.0M | 25x | as long as short |
| Gate MNT_USDT | +0.0100% | 4h | 0.6475 | −0.170% | $428K | $119K | 25x | as long as short |
| MEXC MNT_USDT | +0.0100% | 8h | 0.6484 | −0.031% | $2.5M | $593K | 100x | as long as short |
| BingX MNT-USDT | +0.0100% | 8h | 0.6482 | −0.062% | — | $2.5M | — | as long as short |
| Variational Omni MNT | +0.0100% | 8h | 0.6474 | −0.186% | $288K | $120K | — | as long as short |
| ApeX Omni MNTUSDT | +0.0100% | 1h | 0.6485 | −0.015% | $10K | $640K | 50x | as long as short |
GMX MNT/USD [ETH-USDC]
Injective MNT/USDC PERP
gTrade (Gains Network) MNT/USD
Bybit MNTUSDT
Gate MNT_USDT
MEXC MNT_USDT
BingX MNT-USDT
Variational Omni MNT
ApeX Omni MNTUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_MNT_USDC | +0.0100% | 8h | 0.6490 | +0.062% | $1K | — | 10x | as long as short |
| Lighter MNT | +0.0200% | 1h | 0.6506 | +0.316% | $140K | $70K | 5x | as long as short |
| BloFin MNT-USDT | +0.0220% | 8h | 0.6489 | +0.046% | $90K | $216K | 25x | as long as short |
| Kraken Futures PF_MNTUSD | +0.0319% | 1h | 0.6503 | +0.254% | $17K | $20K | 20x | as long as short |
| Backpack MNT_USDC_PERPlong | +0.0816% | 1h | 0.6486 | long leg | $48K | $45K | 10x |
Orderly PERP_MNT_USDC
Lighter MNT
BloFin MNT-USDT
Kraken Futures PF_MNTUSD