Funding arb · Price arb /

MNT

all MNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.092%

Price spread now: MEXC against Lighter−0.252%7-day average −0.153% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.305%−$30 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.252%, 7d avg −0.153%

Together, before fees−0.223%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and MEXC is 0.099% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.153%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6545	0.0512	pay 0.0064% / 1h	31m 36s	$136K	$65K	5x
Short	MEXC MNT_USDT	0.6529	0.0100	get 0.0100% / 8h	3h 31m	$2.5M	$563K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.252%Rate

Funding earned: −$86.52
Price spread: −0.252% → −0.153%: −$9.89
Slippage, 4 orders: −$48.98
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$153.39
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; MEXC: live order book, 1 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, 11 min ago	6.44 bp	32.3 bp −$32	113.0 bp −$1,130	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.76 bp	7.0 bp −$7	17.1 bp −$171	101.5 bp −$10.2K	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	0.6533	−0.198%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6533	−0.188%	$784	—	150x	as long as short
Injective MNT/USDC PERP	+0.0049%	1h	0.6415	−1.994%	$3K	$121K	12x	as long as short
Variational Omni MNT	+0.0084%	8h	0.6519	−0.411%	$295K	$117K	—	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6542	−0.057%	$6.6M	$878K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6528	−0.263%	$43.1M	$13.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6505	−0.619%	$410K	$121K	25x	as long as short
MEXC MNT_USDTshort	+0.0100%	8h	0.6529	−0.252%	$2.5M	$563K	100x
BingX MNT-USDT	+0.0100%	8h	0.6529	−0.252%	—	$2.5M	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6521	−0.374%	$11K	$635K	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	0.6530	−0.237%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6527	−0.283%	$90K	$214K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0503%	1h	0.6527	−0.279%	$17K	$12K	20x	as long as short
Lighter MNTlong	+0.0512%	1h	0.6545	long leg	$136K	$65K	5x
Backpack MNT_USDC_PERP	+0.0724%	1h	0.6530	−0.237%	$41K	$38K	10x	as long as short