Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.033%

Price spread now: ApeX Omni against Hyperliquid−0.834%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$660.665% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.286%−$29 on $10k

Price spread, last 3 days (all we have)+0.981%+$98 · spread now −0.834%, 7d avg −0.105%

Together, before fees+0.695%+ Points / potential airdropHyperliquid: Season 2 · farm board+$70 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: ApeX Omni is 0.728% cheaper against Hyperliquid than usual: you would sell low and buy high, −$73 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MNT	0.6490	0.0100	pay 0.0013% / 1h	7m 08s	$6.6M	$964K	5x
Short	ApeX Omni MNTUSDT	0.6436	0.0100	get 0.0013% / 1h	7m 08s	$11K	$636K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.834%Rate

Funding earned: $0
Price spread: −0.834% → −0.105%: −$72.85
Slippage, 4 orders: −$47.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$139.33
Costs to cover: 0.665%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; ApeX Omni: live order book, 25 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 Hyperliquid live order book, 9 min ago	1.86 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 25 min ago	8.69 bp	16.6 bp −$17	114.3 bp −$1,143	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 −0.3722% / S +0.0272%	1h	0.6484	−0.100%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0210%	1h	0.6415	−1.157%	$3K	$121K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6480	−0.150%	$778	—	150x	as long as short
Variational Omni MNT	+0.0050%	8h	0.6418	−1.104%	$291K	$117K	—	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6490	long leg	$6.6M	$964K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6476	−0.214%	$42.7M	$13.2M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6464	−0.402%	$409K	$127K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6476	−0.217%	$2.5M	$548K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6475	−0.233%	—	$2.5M	—	as long as short
ApeX Omni MNTUSDTshort	+0.0100%	1h	0.6436	−0.834%	$11K	$636K	50x

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	0.6489	−0.017%	$1K	—	10x	as long as short
Lighter MNT	+0.0192%	1h	0.6494	+0.063%	$134K	$64K	5x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6480	−0.156%	$90K	$188K	25x	as long as short
Backpack MNT_USDC_PERP	+0.0631%	1h	0.6479	−0.171%	$45K	$36K	10x	as long as short
Kraken Futures PF_MNTUSD	+0.2442%	1h	0.6474	−0.252%	$17K	$12K	20x	as long as short