Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.056%

Price spread now: BingX against Backpack0.000%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.462%−$46 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MNT_USDC_PERP	0.6389	0.0377	pay 0.0047% / 1h	18m 39s	$41K	$61K	10x
Short	BingX MNT-USDT	0.6389	0.0100	get 0.0100% / 8h	2h 18m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$58.16
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$78.16
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; BingX: live order book, 1 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 Backpack no order-book sample	—	—	—	—	—
Sell BingX live order book, 1 min ago	1.57 bp	21.8 bp −$22	93.2 bp −$932	282.9 bp −$28.3K	864.4 bp −$432.2K

Backpack: 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 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	0.6392	+0.046%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6389	+0.002%	$768	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+2.144%	$3K	$210K	12x	as long as short
ApeX Omni MNTUSDT	+0.0066%	1h	0.6358	−0.485%	$10K	$639K	50x	as long as short
Lighter MNT	+0.0096%	1h	0.6403	+0.213%	$145K	$89K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6393	+0.070%	$6.4M	$907K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6392	+0.052%	$42.0M	$15.1M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6373	−0.250%	$435K	$183K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6382	−0.110%	$2.4M	$107K	125x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6389	0.000%	—	$2.5M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6365	−0.370%	$283K	$109K	—	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6394	+0.078%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0130%	8h	0.6385	−0.063%	$90K	$222K	25x	as long as short
Backpack MNT_USDC_PERPlong	+0.0377%	1h	0.6389	long leg	$41K	$61K	10x
Kraken Futures PF_MNTUSD	+0.1014%	1h	0.6412	+0.360%	$16K	$39K	20x	as long as short