Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: Orderly against Injective+0.306%58s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.306% dearer against Injective than usual: you sell high and buy low: +$31 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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	36m 21s	$3K	$210K	12x
Short	Orderly PERP_MNT_USDC	0.6546	0.0100	get 0.0100% / 8h	7h 36m	$1K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now +0.306%Rate

Funding earned: $14
Price spread: +0.306% → 0.000%: $30.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $38.63
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Orderly: 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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	0.6540	+0.216%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6540	+0.219%	$785	—	150x	as long as short
Injective MNT/USDC PERPlong	+0.0033%	1h	0.6526	long leg	$3K	$210K	12x
Bybit MNTUSDT	+0.0100%	8h	0.6540	+0.215%	$43.1M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6516	−0.153%	$423K	$155K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6536	+0.153%	$2.5M	$587K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6538	+0.184%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6541	+0.230%	$296K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6545	+0.291%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6546	+0.306%	$1K	—	10x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MNT	+0.0188%	1h	0.6551	+0.386%	$6.7M	$994K	5x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6532	+0.092%	$89K	$219K	25x	as long as short
Lighter MNT	+0.0520%	1h	0.6557	+0.475%	$141K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0592%	1h	0.6533	+0.113%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0754%	1h	0.6536	+0.153%	$38K	$48K	10x	as long as short