Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.025%

Price spread now: Hyperliquid against Gate+0.416%7-day average +0.208% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1121.120% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.539%+$54 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.416%, 7d avg +0.208%

Together, before fees+0.392%+ Points / potential airdropHyperliquid: Season 2 · farm board+$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.208% dearer against Gate than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.208%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MNT_USDT	0.6401	0.0100	pay 0.0050% / 4h	2h 28m	$413K	$164K	25x
Short	Hyperliquid MNT	0.6428	0.0100	get 0.0013% / 1h	28m 08s	$6.6M	$946K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.416%Rate

Funding earned: $0
Price spread: +0.416% → +0.208%: $20.8
Slippage, 4 orders: −$87.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$91.16
Costs to cover: 1.120%
Break-even: never at this rate

Slippage from Gate: live order book, 37 min ago; Hyperliquid: live order book, 4 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 Gate live order book, 37 min ago	9.26 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.32 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit

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	0.6421	+0.308%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	−0.0218%	1h	0.6411	+0.156%	$11K	$640K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6423	+0.344%	$771	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.953%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6436	+0.545%	$138K	$73K	5x	as long as short
Hyperliquid MNTshort	+0.0100%	1h	0.6428	+0.416%	$6.6M	$946K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6418	+0.266%	$42.1M	$14.9M	25x	as long as short
Gate MNT_USDTlong	+0.0100%	4h	0.6401	long leg	$413K	$164K	25x
MEXC MNT_USDC	+0.0100%	8h	0.6412	+0.172%	$2.4M	$103K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6416	+0.234%	—	$2.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6408	+0.102%	$285K	$173K	—	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6422	+0.328%	$1K	—	10x	as long as short
Backpack MNT_USDC_PERP	+0.0178%	1h	0.6418	+0.266%	$49K	$56K	10x	as long as short
Kraken Futures PF_MNTUSD	+0.0385%	1h	0.6413	+0.191%	$16K	$29K	20x	as long as short