Funding you earn now, next payment 22:00 UTC+0.0192%/8h= +21.1% APRpaid last 24h +0.006%
Price spread now: Bybit against Injective−0.305%78s7-day average −0.216% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 3 days (all we have)+1.992%+$199 · spread now −0.305%, 7d avg −0.216%
=Funding pays, the price is against you. Bybit is 0.089% cheaper against Injective than usual: you would sell low and buy high (spread −0.305% now, against its 7-day average of −0.216%). If the spread goes back, that is −$9 on $10k: about 37 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.050% in total) that is about 13 days. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MNT/USDC PERP | 0.6526 | −0.0092 | get 0.0012% / 1h | 14m 02s | $3K | $210K | 12x |
| Short | Bybit MNTUSDT | 0.6506 | 0.0100 | get 0.0100% / 8h | 2h 14m | $42.9M | $13.6M | 25x |
Injective MNT/USDC PERP
Bybit MNTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $40.37
- Price spread: −0.305% → −0.216%
- −$8.89
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $20.46
- Costs to cover
- 0.110%
- Break-even
- 3.5 days
Slippage unknown: Injective: no order-book sample; Bybit: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 1.53 bp | 19.3 bp −$19 | 81.4 bp −$814 | doesn't fit | doesn't fit |
Injective: 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 | 0.6508 | −0.279% | $19 | — | 100x | as long as short |
| Injective MNT/USDC PERPlong | −0.0092% | 1h | 0.6526 | long leg | $3K | $210K | 12x | |
| gTrade (Gains Network) MNT/USD | L +0.0010% / S 0.0000% | 1h | 0.6508 | −0.276% | $781 | — | 150x | as long as short |
| Bybit MNTUSDTshort | +0.0100% | 8h | 0.6506 | −0.305% | $42.9M | $13.6M | 25x | |
| Gate MNT_USDT | +0.0100% | 4h | 0.6492 | −0.521% | $413K | $115K | 25x | as long as short |
| MEXC MNT_USDT | +0.0100% | 8h | 0.6506 | −0.306% | $2.5M | $585K | 100x | as long as short |
| BingX MNT-USDT | +0.0100% | 8h | 0.6505 | −0.322% | — | $2.5M | — | as long as short |
| Variational Omni MNT | +0.0100% | 8h | 0.6513 | −0.196% | $293K | $117K | — | as long as short |
| ApeX Omni MNTUSDT | +0.0100% | 1h | 0.6514 | −0.184% | $11K | $641K | 50x | as long as short |
| Orderly PERP_MNT_USDC | +0.0100% | 8h | 0.6523 | −0.046% | $1K | — | 10x | as long as short |
GMX MNT/USD [ETH-USDC]
gTrade (Gains Network) MNT/USD
Gate MNT_USDT
MEXC MNT_USDT
BingX MNT-USDT
Variational Omni MNT
ApeX Omni MNTUSDT
Orderly PERP_MNT_USDCShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MNT | +0.0115% | 1h | 0.6518 | −0.127% | $6.6M | $897K | 5x | as long as short |
| BloFin MNT-USDT | +0.0220% | 8h | 0.6511 | −0.230% | $89K | $217K | 25x | as long as short |
| Kraken Futures PF_MNTUSD | +0.0228% | 1h | 0.6521 | −0.077% | $17K | $20K | 20x | as long as short |
| Lighter MNT | +0.0632% | 1h | 0.6526 | −0.003% | $140K | $70K | 5x | as long as short |
| Backpack MNT_USDC_PERP | +0.0668% | 1h | 0.6507 | −0.291% | $40K | $34K | 10x | as long as short |
Hyperliquid MNT
BloFin MNT-USDT
Kraken Futures PF_MNTUSD
Lighter MNT
Backpack MNT_USDC_PERP