Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.086%

Price spread now: Lighter against Gate+0.536%7-day average +0.235% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1161.163% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.554%+$55 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.536%, 7d avg +0.235%

Together, before fees+0.368%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.301% dearer against Gate than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.235%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MNT_USDT	0.6439	0.0100	pay 0.0050% / 4h	40m 44s	$432K	$174K	25x
Short	Lighter MNT	0.6473	0.0320	get 0.0040% / 1h	40m 44s	$141K	$75K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.536%Rate

Funding earned: $46.2
Price spread: +0.536% → +0.235%: $30.06
Slippage, 4 orders: −$101.32
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.06
Costs to cover: 1.163%
Break-even: 13.1 days

Slippage from Gate: live order book, 15 min ago; Lighter: live order book, 64 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 Gate live order book, 15 min ago	10.85 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 64 min ago	7.67 bp	12.7 bp −$13	89.6 bp −$896	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	0.6451	+0.186%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0567%	1h	0.6442	+0.045%	$16K	$28K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6452	+0.199%	$775	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.351%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6465	+0.398%	$6.6M	$880K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6454	+0.233%	$42.3M	$14.8M	25x	as long as short
Gate MNT_USDTlong	+0.0100%	4h	0.6439	long leg	$432K	$174K	25x
MEXC MNT_USDC	+0.0100%	8h	0.6450	+0.171%	$2.4M	$105K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6452	+0.202%	—	$2.5M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6446	+0.109%	$41K	$57K	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	0.6446	+0.113%	$286K	$173K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6451	+0.186%	$11K	$643K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6460	+0.326%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6451	+0.186%	$90K	$213K	25x	as long as short
Lighter MNTshort	+0.0320%	1h	0.6473	+0.536%	$141K	$75K	5x