Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.053%

Price spread now: Backpack against BingX+0.031%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.470%+$47 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.031% dearer against BingX than usual: you sell high and buy low: +$3 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	BingX MNT-USDT	0.6405	0.0100	pay 0.0100% / 8h	6h 25m	—	$2.5M	—
Short	Backpack MNT_USDC_PERP	0.6407	0.0224	get 0.0028% / 1h	25m 10s	$48K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.031%Rate

Funding earned: $26.02
Price spread: +0.031% → 0.000%: $3.12
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $9.14
Costs to cover: 0.200%
Break-even: 4.5 days

Slippage unknown: BingX: live order book, 4 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 BingX live order book, 4 min ago	0.78 bp	13.9 bp −$14	57.4 bp −$574	249.1 bp −$24.9K	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 14 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	0.6409	+0.059%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	−0.0194%	1h	0.6415	+0.156%	$11K	$640K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6410	+0.076%	$770	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.889%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6429	+0.368%	$138K	$73K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6419	+0.217%	$6.6M	$946K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6408	+0.047%	$42.0M	$14.9M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6399	−0.094%	$413K	$164K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6409	+0.062%	$2.4M	$103K	125x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6405	long leg	—	$2.5M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6415	+0.155%	$285K	$173K	—	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6419	+0.219%	$1K	—	10x	as long as short
Backpack MNT_USDC_PERPshort	+0.0224%	1h	0.6407	+0.031%	$48K	$56K	10x
Kraken Futures PF_MNTUSD	+0.0385%	1h	0.6409	+0.055%	$16K	$29K	20x	as long as short