Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.011%

Price spread now: Injective against BingX+0.400%7-day average +0.239% · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 3 days (all we have)−2.142%−$214 · spread now +0.400%, 7d avg +0.239%

Together, before fees−2.205%−$220 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.161% dearer against BingX than usual: you sell high and buy low (spread +0.400% now, against its 7-day average of +0.239%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.1 days. At the pace of the last 7 days (−0.062% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6500	0.0100	pay 0.0100% / 8h	7h 06m	—	$2.5M	—
Short	Injective MNT/USDC PERP	0.6526	0.0033	get 0.0004% / 1h	6m 56s	$3K	$210K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee InjectivebpOrdersPrice spread, now +0.400%Rate

Funding earned: −$14
Price spread: +0.400% → +0.239%: $16.14
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$7.88
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 13 min ago; Injective: 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 BingX live order book, 13 min ago	1.53 bp	18.7 bp −$19	76.4 bp −$764	248.5 bp −$24.9K	844.9 bp −$422.5K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.6504	+0.055%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6504	+0.063%	$781	—	150x	as long as short
Injective MNT/USDC PERPshort	+0.0033%	1h	0.6526	+0.400%	$3K	$210K	12x
Bybit MNTUSDT	+0.0100%	8h	0.6501	+0.018%	$42.9M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6491	−0.138%	$422K	$158K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6501	+0.015%	$2.5M	$594K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6500	long leg	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6505	+0.083%	$294K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6507	+0.108%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6512	+0.185%	$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	0.6512	+0.185%	$90K	$227K	25x	as long as short
Hyperliquid MNT	+0.0252%	1h	0.6513	+0.208%	$6.7M	$934K	5x	as long as short
Lighter MNT	+0.0576%	1h	0.6522	+0.342%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0592%	1h	0.6530	+0.459%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0677%	1h	0.6502	+0.031%	$38K	$47K	10x	as long as short