Funding arb · Price arb /

MNT

all MNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.100%

Price spread now: Lighter against BingX+0.360%7-day average +0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$30 on $10k

Price spread, last 4 days (all we have)−0.205%−$21 · spread now +0.360%, 7d avg +0.158%

Together, before fees+0.099%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.203% dearer against BingX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6492	0.0100	pay 0.0100% / 8h	1h 14m	—	$2.5M	—
Short	Lighter MNT	0.6515	0.0272	get 0.0034% / 1h	14m 43s	$140K	$70K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.360%Rate

Funding earned: $36.12
Price spread: +0.360% → +0.158%: $20.28
Slippage, 4 orders: −$66.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.41
Costs to cover: 0.768%
Break-even: 11.0 days

Slippage from BingX: live order book, 10 min ago; Lighter: live order book, 59 min ago.

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, 10 min ago	2.31 bp	12.6 bp −$13	58.4 bp −$584	197.8 bp −$19.8K	826.8 bp −$413.4K
Sell Lighter live order book, 59 min ago	9.74 bp	14.9 bp −$15	82.9 bp −$829	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	0.6496	+0.068%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.524%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6497	+0.080%	$780	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6508	+0.248%	$6.5M	$919K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6496	+0.062%	$42.6M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6473	−0.293%	$414K	$130K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6494	+0.031%	$2.5M	$595K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6492	long leg	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6493	+0.011%	$291K	$123K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6494	+0.031%	$10K	$635K	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	0.6504	+0.185%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6496	+0.062%	$89K	$223K	25x	as long as short
Lighter MNTshort	+0.0272%	1h	0.6515	+0.360%	$140K	$70K	5x
Kraken Futures PF_MNTUSD	+0.0319%	1h	0.6496	+0.063%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0758%	1h	0.6495	+0.046%	$41K	$45K	10x	as long as short