Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0443%/8h= +48.5% APRpaid last 24h +0.033%

Price spread now: Backpack against BloFin−0.061%66s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.452%+$45 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.061% cheaper against BloFin than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 11 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.452% in total) that is about 23 hours. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MNT-USDT	0.6505	0.0220	pay 0.0220% / 8h	2h 09m	$89K	$217K	25x
Short	Backpack MNT_USDC_PERP	0.6501	0.0663	get 0.0083% / 1h	9m 57s	$40K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now −0.061%Rate

Funding earned: $93.08
Price spread: −0.061% → 0.000%: −$6.15
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $64.93
Costs to cover: 0.220%
Break-even: 2.1 days

Slippage unknown: BloFin: live order book, 5 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 BloFin live order book, 5 min ago	0.77 bp	18.4 bp −$18	49.5 bp −$495	doesn't fit	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 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	0.6504	−0.012%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0092%	1h	0.6526	+0.323%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6506	+0.012%	$781	—	150x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6501	−0.060%	$42.9M	$13.6M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6492	−0.200%	$413K	$115K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6500	−0.077%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6499	−0.092%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6503	−0.025%	$293K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6512	+0.108%	$11K	$640K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6512	+0.108%	$1K	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MNT	+0.0125%	1h	0.6512	+0.115%	$6.6M	$897K	5x	as long as short
BloFin MNT-USDTlong	+0.0220%	8h	0.6505	long leg	$89K	$217K	25x
Kraken Futures PF_MNTUSD	+0.0228%	1h	0.6515	+0.149%	$17K	$20K	20x	as long as short
Lighter MNT	+0.0632%	1h	0.6518	+0.197%	$140K	$70K	5x	as long as short
Backpack MNT_USDC_PERPshort	+0.0663%	1h	0.6501	−0.061%	$40K	$34K	10x