Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Orderly against Hyperliquid+0.103%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.103% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to zero (this spread has no 7-day history yet).

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	30m 48s	$6.5M	$917K	5x
Short	Orderly PERP_MNT_USDC	0.6497	0.0100	get 0.0100% / 8h	1h 30m	$1K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → 0.000%: $10.32
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.68
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 1 min ago; Orderly: no order-book sample. 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 Hyperliquid live order book, 1 min ago	0.54 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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]	L −0.2622% / S +0.0192%	1h	0.6487	−0.047%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.550%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6488	−0.035%	$779	—	150x	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6490	long leg	$6.5M	$917K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6481	−0.146%	$42.5M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6469	−0.328%	$423K	$125K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6482	−0.128%	$2.5M	$594K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6479	−0.174%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6486	−0.070%	$291K	$123K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6491	+0.011%	$10K	$641K	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_USDCshort	+0.0100%	8h	0.6497	+0.103%	$1K	—	10x
BloFin MNT-USDT	+0.0220%	8h	0.6483	−0.112%	$89K	$222K	25x	as long as short
Lighter MNT	+0.0288%	1h	0.6500	+0.154%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0320%	1h	0.6487	−0.045%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0749%	1h	0.6484	−0.097%	$44K	$44K	10x	as long as short