Funding arb · Price arb /

MNT

all MNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.108%

Price spread now: BingX against Lighter−0.424%7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$880.884% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.324%−$32 on $10k

Price spread, last 4 days (all we have)+0.269%+$27 · spread now −0.424%, 7d avg −0.172%

Together, before fees−0.055%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BingX is 0.252% cheaper against Lighter than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.172%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6539	0.0448	pay 0.0056% / 1h	22m 52s	$149K	$84K	5x
Short	BingX MNT-USDT	0.6511	0.0100	get 0.0100% / 8h	3h 22m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.424%Rate

Funding earned: −$73.08
Price spread: −0.424% → −0.172%: −$25.17
Slippage, 4 orders: −$78.44
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$186.69
Costs to cover: 0.884%
Break-even: never at this rate

Slippage from Lighter: live order book, 12 min ago; BingX: live order book, 12 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 Lighter live order book, 12 min ago	9.25 bp	34.2 bp −$34	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	1.53 bp	19.9 bp −$20	83.3 bp −$833	287.3 bp −$28.7K	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	0.6521	−0.266%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0732%	1h	0.6528	−0.168%	$17K	$39K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6521	−0.274%	$783	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.194%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6524	−0.220%	$6.7M	$755K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6510	−0.439%	$42.9M	$14.7M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6508	−0.470%	$445K	$173K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6512	−0.408%	$2.4M	$106K	125x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6511	−0.424%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6516	−0.343%	$289K	$110K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDT	+0.0100%	1h	0.6524	−0.225%	$11K	$639K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6529	−0.148%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6521	−0.271%	$90K	$216K	25x	as long as short
Lighter MNTlong	+0.0448%	1h	0.6539	long leg	$149K	$84K	5x
Backpack MNT_USDC_PERP	+0.0646%	1h	0.6517	−0.332%	$37K	$58K	10x	as long as short