Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.006%

Price spread now: MEXC against Injective−0.184%100s7-day average −0.309% · you buy dearer than you sell

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+1.811%+$181 · spread now −0.184%, 7d avg −0.309%

Together, before fees+1.861%+$186 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.125% dearer against Injective than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.309%. The two prices were read 100 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	Injective MNT/USDC PERP	0.6526	0.0033	pay 0.0004% / 1h	23m 44s	$3K	$210K	12x
Short	MEXC MNT_USDC	0.6514	0.0100	get 0.0100% / 8h	3h 23m	$2.4M	$105K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now −0.184%Rate

Funding earned: $14
Price spread: −0.184% → −0.309%: $12.49
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 4 bp × 2 orders: −$8
Net: $18.47
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	2.30 bp	12.0 bp −$12	58.8 bp −$588	172.3 bp −$17.2K	doesn't fit

Injective: 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	0.6516	−0.150%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0732%	1h	0.6527	+0.021%	$17K	$39K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6517	−0.142%	$782	—	150x	as long as short
Injective MNT/USDC PERPlong	+0.0033%	1h	0.6526	long leg	$3K	$210K	12x
Hyperliquid MNT	+0.0100%	1h	0.6529	+0.043%	$6.7M	$755K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6519	−0.107%	$43.0M	$14.7M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6509	−0.260%	$445K	$173K	25x	as long as short
MEXC MNT_USDCshort	+0.0100%	8h	0.6514	−0.184%	$2.4M	$105K	125x
BingX MNT-USDT	+0.0100%	8h	0.6519	−0.107%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6516	−0.149%	$289K	$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	0.6524	−0.031%	$11K	$639K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6527	+0.015%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6511	−0.230%	$90K	$216K	25x	as long as short
Lighter MNT	+0.0448%	1h	0.6540	+0.211%	$149K	$84K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0647%	1h	0.6514	−0.184%	$37K	$58K	10x	as long as short