Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.088%

Price spread now: Lighter against Gate+0.506%7-day average +0.230% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1261.257% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.551%+$55 on $10k

Price spread, last 4 days (all we have)−0.266%−$27 · spread now +0.506%, 7d avg +0.230%

Together, before fees+0.285%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.276% dearer against Gate than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.230%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MNT_USDT	0.6406	0.0100	pay 0.0050% / 4h	2h 43m	$412K	$163K	25x
Short	Lighter MNT	0.6438	0.0152	get 0.0019% / 1h	43m 10s	$138K	$71K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.506%Rate

Funding earned: $10.92
Price spread: +0.506% → +0.230%: $27.61
Slippage, 4 orders: −$110.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$87.14
Costs to cover: 1.257%
Break-even: 62.9 days

Slippage from Gate: live order book, 22 min ago; Lighter: live order book, 7 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, 22 min ago	9.26 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	8.38 bp	23.4 bp −$23	99.0 bp −$990	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	0.6422	+0.243%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	−0.0567%	1h	0.6420	+0.219%	$11K	$638K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S −0.0008%	1h	0.6421	+0.240%	$12K	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.873%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6423	+0.264%	$6.6M	$941K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6408	+0.028%	$42.1M	$14.8M	25x	as long as short
Gate MNT_USDTlong	+0.0100%	4h	0.6406	long leg	$412K	$163K	25x
MEXC MNT_USDC	+0.0100%	8h	0.6412	+0.094%	$2.4M	$102K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6410	+0.062%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6415	+0.133%	$285K	$173K	—	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	0.6423	+0.265%	$1K	—	10x	as long as short
Backpack MNT_USDC_PERP	+0.0144%	1h	0.6415	+0.140%	$40K	$49K	10x	as long as short
Lighter MNTshort	+0.0152%	1h	0.6438	+0.506%	$138K	$71K	5x
BloFin MNT-USDT	+0.0220%	8h	0.6418	+0.187%	$90K	$219K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0384%	1h	0.6432	+0.413%	$16K	$21K	20x	as long as short