Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.045%

Price spread now: MEXC against Hyperliquid−0.191%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.191%, 7d avg −0.156%

Together, before fees−0.310%+ Points / potential airdropHyperliquid: Season 2 · farm board−$31 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.156%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MNT	0.6542	0.0100	pay 0.0013% / 1h	22m 16s	$6.6M	$896K	5x
Short	MEXC MNT_USDT	0.6530	0.0100	get 0.0100% / 8h	2h 22m	$2.5M	$585K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.191%Rate

Funding earned: $0
Price spread: −0.191% → −0.156%: −$3.46
Slippage, 4 orders: −$30.62
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$51.08
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; MEXC: live order book, 5 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 Hyperliquid live order book, 10 min ago	2.99 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.77 bp	8.4 bp −$8	41.8 bp −$418	107.7 bp −$10.8K	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	0.6533	−0.143%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0092%	1h	0.6526	−0.252%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6533	−0.142%	$784	—	150x	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6542	long leg	$6.6M	$896K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6533	−0.145%	$43.1M	$13.6M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6508	−0.527%	$414K	$115K	25x	as long as short
MEXC MNT_USDTshort	+0.0100%	8h	0.6530	−0.191%	$2.5M	$585K	100x
BingX MNT-USDT	+0.0100%	8h	0.6530	−0.191%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6526	−0.248%	$294K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6524	−0.283%	$11K	$640K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6529	−0.206%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6529	−0.206%	$89K	$218K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0227%	1h	0.6536	−0.105%	$17K	$20K	20x	as long as short
Lighter MNT	+0.0632%	1h	0.6549	+0.104%	$140K	$70K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0692%	1h	0.6532	−0.160%	$40K	$34K	10x	as long as short