Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0831%/8h= −91.0% APRpaid last 24h +0.107%

Price spread now: Kraken Futures against Bybit+0.728%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.728% dearer against Bybit than usual: you sell high and buy low (spread +0.728% now, against zero (this spread has no 7-day history yet)): +$73 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MNTUSDT	0.6493	0.0100	pay 0.0100% / 8h	3h 19m	$42.8M	$14.7M	25x
Short	Kraken Futures PF_MNTUSD	0.6540	−0.0731	pay 0.0091% / 1h	19m 47s	$17K	$39K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.728%Rate

Funding earned: −$174.46
Price spread: +0.728% → 0.000%: $72.77
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$122.68
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Kraken Futures: 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 Bybit live order book, 4 min ago	1.53 bp	24.6 bp −$25	81.5 bp −$815	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	0.6499	+0.093%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSDshort	−0.0731%	1h	0.6540	+0.728%	$17K	$39K	20x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6499	+0.089%	$780	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.508%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6505	+0.189%	$6.7M	$760K	5x	as long as short
Bybit MNTUSDTlong	+0.0100%	8h	0.6493	long leg	$42.8M	$14.7M	25x
Gate MNT_USDT	+0.0100%	4h	0.6485	−0.123%	$439K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6488	−0.077%	$2.4M	$106K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6495	+0.031%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6480	−0.195%	$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	0.6517	+0.370%	$11K	$640K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6500	+0.108%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6479	−0.216%	$90K	$215K	25x	as long as short
Lighter MNT	+0.0464%	1h	0.6515	+0.342%	$148K	$84K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0579%	1h	0.6497	+0.062%	$36K	$58K	10x	as long as short