Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.093%

Price spread now: Kraken Futures against Orderly−0.203%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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. Kraken Futures is 0.203% cheaper against Orderly than usual: you would sell low and buy high (spread −0.203% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 2.4 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MNT_USDC	0.6415	0.0100	pay 0.0100% / 8h	6h 18m	$1K	—	10x
Short	Kraken Futures PF_MNTUSD	0.6402	0.0385	get 0.0048% / 1h	18m 30s	$16K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Orderly. 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 OrderlybpFee Kraken FuturesbpOrdersPrice spread, now −0.203%Rate

Funding earned: $59.93
Price spread: −0.203% → 0.000%: −$20.26
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $23.67
Costs to cover: 0.160%
Break-even: 4.2 days

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

Orderly and Kraken Futures: 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 14 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	0.6407	−0.121%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	−0.0138%	1h	0.6412	−0.047%	$11K	$641K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6408	−0.115%	$769	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.730%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6428	+0.204%	$138K	$73K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6421	+0.097%	$6.6M	$945K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6402	−0.196%	$41.9M	$15.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6389	−0.405%	$413K	$165K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6403	−0.187%	$2.4M	$104K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6402	−0.203%	—	$2.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6406	−0.135%	$284K	$174K	—	as long as short
Orderly PERP_MNT_USDClong	+0.0100%	8h	0.6415	long leg	$1K	—	10x
Backpack MNT_USDC_PERP	+0.0264%	1h	0.6405	−0.156%	$47K	$57K	10x	as long as short
Kraken Futures PF_MNTUSDshort	+0.0385%	1h	0.6402	−0.203%	$16K	$29K	20x