Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h +0.106%

Price spread now: Lighter against Bybit+0.270%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$980.981% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.330%+$33 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.270%, 7d avg +0.160%

Together, before fees+0.247%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.110% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MNTUSDT	0.6447	0.0100	pay 0.0100% / 8h	4h 20m	$42.2M	$14.7M	25x
Short	Lighter MNT	0.6464	0.0392	get 0.0049% / 1h	20m 43s	$141K	$75K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.270%Rate

Funding earned: $61.32
Price spread: +0.270% → +0.160%: $10.97
Slippage, 4 orders: −$87.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$25.85
Costs to cover: 0.981%
Break-even: 10.0 days

Slippage from Bybit: live order book, 3 min ago; Lighter: live order book, 19 min ago.

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, 3 min ago	0.77 bp	29.9 bp −$30	95.9 bp −$959	doesn't fit	doesn't fit
Sell Lighter live order book, 19 min ago	11.44 bp	17.0 bp −$17	93.8 bp −$938	doesn't fit	doesn't fit

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	0.6445	−0.034%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0567%	1h	0.6444	−0.043%	$16K	$28K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6447	+0.005%	$774	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.225%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6458	+0.166%	$6.6M	$879K	5x	as long as short
Bybit MNTUSDTlong	+0.0100%	8h	0.6447	long leg	$42.2M	$14.7M	25x
Gate MNT_USDT	+0.0100%	4h	0.6433	−0.217%	$433K	$175K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6441	−0.093%	$2.4M	$106K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6444	−0.047%	—	$2.5M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6442	−0.078%	$41K	$55K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6441	−0.088%	$286K	$111K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6460	+0.202%	$11K	$641K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6456	+0.140%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6441	−0.093%	$90K	$213K	25x	as long as short
Lighter MNTshort	+0.0392%	1h	0.6464	+0.270%	$141K	$75K	5x