Funding arb · Price arb /

MANTA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0546%/8h= +59.8% APRpaid last 24h +0.017%

Price spread now: Hyperliquid against KuCoin+0.285%7-day average +0.214% · you sell dearer than you buy

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

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.285%, 7d avg +0.214%

Together, before fees−0.127%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.071% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.214%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.017% in total (about 0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MANTAUSDTM	0.07017	0.0100	pay 0.0050% / 4h	1h 16m	$233K	$30K	50x
Short	Hyperliquid MANTA	0.07037	0.0646	get 0.0081% / 1h	16m 57s	$533K	$218K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.285%Rate

Funding earned: $114.59
Price spread: +0.285% → +0.214%: $7.12
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $100.72
Costs to cover: 0.210%
Break-even: 0.8 days

Slippage unknown: KuCoin: live order book, 53 min ago; Hyperliquid: live order book, 63 min ago. 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 KuCoin live order book, 53 min ago	45.08 bp	539.9 bp −$540	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 63 min ago	0.71 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

MANTA on 12 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
Injective MANTA/USDC PERP	−0.3509%	1h	0.06944	−1.040%	$2K	$40K	5.5x	as long as short
Aster MANTAUSDT	+0.0100%	4h	0.07019	+0.034%	$5K	$9K	5x	as long as short
Binance MANTAUSDT	+0.0100%	4h	0.07024	+0.097%	$5.5M	$4.5M	50x	as long as short
Bybit MANTAUSDT	+0.0100%	4h	0.07009	−0.114%	$3.3M	$925K	25x	as long as short
Gate MANTA_USDT	+0.0100%	4h	0.07020	+0.043%	$206K	$128K	50x	as long as short
MEXC MANTA_USDT	+0.0100%	4h	0.07022	+0.071%	$13.4M	$579K	50x	as long as short
KuCoin MANTAUSDTMlong	+0.0100%	4h	0.07017	long leg	$233K	$30K	50x
Variational Omni MANTA	+0.0100%	4h	0.07019	+0.030%	$16K	$3K	—	as long as short
BloFin MANTA-USDT	+0.0112%	4h	0.07019	+0.029%	$316K	$19K	50x	as long as short
Bitget MANTAUSDT	+0.0342%	4h	0.07037	+0.285%	$3.2M	$421K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX MANTA-USDT	+0.0348%	4h	0.07019	+0.029%	—	$1.5M	—	as long as short
Hyperliquid MANTAshort	+0.0646%	1h	0.07037	+0.285%	$533K	$218K	3x