Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0292%/8h= −31.9% APRpaid last 24h −0.065%

Price spread now: GMX against BingX+0.125%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 GMX

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—needs both histories

The price spread pays, funding is against you. GMX is 0.125% dearer against BingX than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6502	0.0100	pay 0.0100% / 8h	21m 30s	—	$2.5M	—
Short	GMX MNT/USD [ETH-USDC]	0.6510	L −0.2622% / S +0.0192%	pay 0.0024% / 1h	21m 30s	$19	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$61.26
Price spread: +0.125% → 0.000%: $12.52
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$70.74
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 13 min ago; GMX: 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, 13 min ago	1.54 bp	15.4 bp −$15	70.7 bp −$707	268.7 bp −$26.9K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.2622% / S +0.0192%	1h	0.6510	+0.125%	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6510	+0.127%	$782	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.369%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6520	+0.275%	$6.7M	$979K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6506	+0.062%	$42.8M	$14.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6481	−0.323%	$406K	$148K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6504	+0.031%	$2.5M	$587K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6502	long leg	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6511	+0.135%	$294K	$169K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6503	+0.015%	$11K	$631K	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	0.6515	+0.200%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6507	+0.077%	$89K	$219K	25x	as long as short
Lighter MNT	+0.0440%	1h	0.6524	+0.345%	$141K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0648%	1h	0.6513	+0.176%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0826%	1h	0.6507	+0.077%	$39K	$47K	10x	as long as short