Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Gate against Hyperliquid−0.412%7-day average −0.195% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$910.908% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.541%−$54 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.412%, 7d avg −0.195%

Together, before fees−0.484%+ Points / potential airdropHyperliquid: Season 2 · farm board−$48 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: Gate is 0.217% cheaper against Hyperliquid than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.195%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MNT	0.6529	0.0100	pay 0.0013% / 1h	32m 10s	$6.6M	$896K	5x
Short	Gate MNT_USDT	0.6502	0.0100	get 0.0050% / 4h	2h 32m	$413K	$115K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.412%Rate

Funding earned: $0
Price spread: −0.412% → −0.195%: −$21.73
Slippage, 4 orders: −$66.8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$112.53
Costs to cover: 0.908%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Gate: live order book, 53 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, 10 min ago	1.23 bp	18.7 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 53 min ago	9.22 bp	27.5 bp −$27	doesn't fit	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	0.6518	−0.170%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0092%	1h	0.6522	−0.106%	$3K	$171K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6519	−0.155%	$783	—	150x	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6529	long leg	$6.6M	$896K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6515	−0.213%	$43.0M	$13.5M	25x	as long as short
Gate MNT_USDTshort	+0.0100%	4h	0.6502	−0.412%	$413K	$115K	25x
MEXC MNT_USDT	+0.0100%	8h	0.6516	−0.198%	$2.5M	$584K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6516	−0.198%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6508	−0.324%	$293K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6513	−0.244%	$11K	$640K	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	0.6527	−0.029%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6516	−0.198%	$89K	$218K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0228%	1h	0.6519	−0.148%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0635%	1h	0.6521	−0.121%	$40K	$35K	10x	as long as short
Lighter MNT	+0.0640%	1h	0.6534	+0.081%	$140K	$70K	5x	as long as short