Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.077%

Price spread now: Orderly against Lighter−0.180%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.180% cheaper against Lighter than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6497	0.0224	pay 0.0028% / 1h	51m 05s	$147K	$70K	5x
Short	Orderly PERP_MNT_USDC	0.6485	0.0100	get 0.0100% / 8h	5h 51m	$1K	$74	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.180%Rate

Funding earned: −$26.04
Price spread: −0.180% → 0.000%: −$18.01
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.05
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 54 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 Lighter live order book, 54 min ago	10.47 bp	34.9 bp −$35	97.0 bp −$970	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 exchanges

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	0.6478	−0.294%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6479	−0.270%	$778	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.451%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6486	−0.159%	$6.5M	$694K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6475	−0.331%	$42.9M	$13.6M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6476	−0.319%	$435K	$167K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6474	−0.349%	$2.3M	$106K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6475	−0.334%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6477	−0.303%	$36K	$60K	10x	as long as short
Variational Omni MNT	+0.0100%	8h	0.6473	−0.359%	$290K	$102K	—	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDT	+0.0100%	1h	0.6483	−0.211%	$11K	$641K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6485	−0.180%	$1K	$74	10x
BloFin MNT-USDT	+0.0213%	8h	0.6474	−0.349%	$91K	$117K	25x	as long as short
Lighter MNTlong	+0.0224%	1h	0.6497	long leg	$147K	$70K	5x
Kraken Futures PF_MNTUSD	+0.1629%	1h	0.6483	−0.204%	$16K	$39K	20x	as long as short