Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2722%/8h= +298.1% APRpaid last 24h +0.758%

Price spread now: BingX against GMX−0.089%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BingX

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

Funding pays, the price is against you. BingX is 0.089% cheaper against GMX than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3 hours of funding at the current rate (+$82 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MNT/USD [ETH-USDC]	0.6396	L −0.2622% / S +0.0192%	get 0.0328% / 1h	30m 03s	$19	—	100x
Short	BingX MNT-USDT	0.6390	0.0100	get 0.0100% / 8h	2h 30m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now −0.089%Rate

Funding earned: $571.65
Price spread: −0.089% → 0.000%: −$8.9
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $540.75
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	1.56 bp	15.9 bp −$16	76.8 bp −$768	287.8 bp −$28.8K	doesn't fit

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]long	L −0.2622% / S +0.0192%	1h	0.6396	long leg	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6394	−0.023%	$768	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+2.037%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6400	+0.072%	$6.4M	$887K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6390	−0.089%	$42.1M	$14.8M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6376	−0.308%	$435K	$183K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6388	−0.120%	$2.4M	$106K	125x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6390	−0.089%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6384	−0.190%	$283K	$109K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6421	+0.396%	$11K	$638K	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	0.6405	+0.146%	$1K	$74	10x	as long as short
Lighter MNT	+0.0128%	1h	0.6408	+0.191%	$145K	$88K	5x	as long as short
BloFin MNT-USDT	+0.0300%	8h	0.6385	−0.167%	$90K	$221K	25x	as long as short
Backpack MNT_USDC_PERP	+0.0443%	1h	0.6392	−0.058%	$39K	$59K	10x	as long as short
Kraken Futures PF_MNTUSD	+0.1016%	1h	0.6400	+0.071%	$16K	$39K	20x	as long as short