Funding arb · Price arb /

MNT

all MNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0600%/8h= −65.7% APRpaid last 24h −0.056%

Price spread now: Bybit against Backpack−0.077%45s7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.473%−$47 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Bybit is 0.077% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MNT_USDC_PERP	0.6525	0.0700	pay 0.0088% / 1h	13m 23s	$38K	$47K	10x
Short	Bybit MNTUSDT	0.6520	0.0100	get 0.0100% / 8h	7h 13m	$43.0M	$14.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$126.05
Price spread: −0.077% → 0.000%: −$7.66
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$154.71
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	1.53 bp	20.6 bp −$21	86.9 bp −$869	doesn't fit	doesn't fit

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	0.6521	−0.065%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6521	−0.058%	$783	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.015%	$3K	$210K	12x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6520	−0.077%	$43.0M	$14.4M	25x
Gate MNT_USDT	+0.0100%	4h	0.6504	−0.322%	$422K	$158K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6519	−0.092%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6516	−0.138%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6531	+0.092%	$295K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6531	+0.092%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6530	+0.077%	$1K	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MNT-USDT	+0.0220%	8h	0.6529	+0.061%	$89K	$225K	25x	as long as short
Hyperliquid MNT	+0.0243%	1h	0.6531	+0.098%	$6.7M	$981K	5x	as long as short
Lighter MNT	+0.0576%	1h	0.6541	+0.248%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0591%	1h	0.6545	+0.308%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPlong	+0.0700%	1h	0.6525	long leg	$38K	$47K	10x