Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0543%/8h= +59.5% APRpaid last 24h +0.029%

Price spread now: Backpack against BloFin−0.031%66s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.451%+$45 on $10k

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. Backpack is 0.031% cheaper against BloFin than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.451% in total) that is about 12 hours. The two prices were read 66 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	BloFin MNT-USDT	0.6471	0.0220	pay 0.0220% / 8h	3h 53m	$90K	$214K	25x
Short	Backpack MNT_USDC_PERP	0.6469	0.0763	get 0.0095% / 1h	53m 36s	$39K	$55K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now −0.031%Rate

Funding earned: $114.12
Price spread: −0.031% → 0.000%: −$3.09
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $89.03
Costs to cover: 0.220%
Break-even: 1.5 days

Slippage unknown: BloFin: live order book, 37 min ago; Backpack: 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 BloFin live order book, 37 min ago	1.55 bp	15.9 bp −$16	54.5 bp −$545	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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	0.6470	−0.012%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0739%	1h	0.6469	−0.027%	$17K	$34K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6471	−0.006%	$777	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.850%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6485	+0.219%	$6.6M	$879K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6479	+0.124%	$42.5M	$14.7M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6451	−0.309%	$434K	$169K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6468	−0.046%	$2.4M	$104K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6474	+0.046%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6465	−0.087%	$287K	$110K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDT	+0.0100%	1h	0.6472	+0.015%	$11K	$639K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6472	+0.015%	$1K	—	10x	as long as short
BloFin MNT-USDTlong	+0.0220%	8h	0.6471	long leg	$90K	$214K	25x
Lighter MNT	+0.0464%	1h	0.6492	+0.329%	$142K	$75K	5x	as long as short
Backpack MNT_USDC_PERPshort	+0.0763%	1h	0.6469	−0.031%	$39K	$55K	10x