Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.026%

Price spread now: Orderly against Injective−1.701%7-day average — · you buy dearer than you sell

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

Long on Injective 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—needs both histories

Funding pays, the price is against you. Orderly is 1.701% cheaper against Injective than usual: you would sell low and buy high (spread −1.701% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$170 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MNT/USDC PERP	0.6526	0.0033	pay 0.0004% / 1h	33m 06s	$3K	$210K	12x
Short	Orderly PERP_MNT_USDC	0.6415	0.0100	get 0.0100% / 8h	7h 33m	$1K	$74	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −1.701%Rate

Funding earned: $14
Price spread: −1.701% → 0.000%: −$170.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$162.11
Costs to cover: 0.060%
Break-even: 88.1 days

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and 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	0.6408	−1.811%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6413	−1.737%	$770	—	150x	as long as short
Injective MNT/USDC PERPlong	+0.0033%	1h	0.6526	long leg	$3K	$210K	12x
Lighter MNT	+0.0096%	1h	0.6426	−1.537%	$144K	$90K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6419	−1.646%	$6.4M	$915K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6411	−1.762%	$42.2M	$15.2M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6416	−1.686%	$451K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6410	−1.778%	$2.4M	$105K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6411	−1.762%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6409	−1.793%	$39K	$61K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6421	−1.602%	$287K	$111K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6428	−1.502%	$11K	$640K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6415	−1.701%	$1K	$74	10x
BloFin MNT-USDT	+0.0302%	8h	0.6398	−1.961%	$91K	$187K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.1535%	1h	0.6418	−1.654%	$16K	$40K	20x	as long as short