Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1430%/8h= −156.6% APRpaid last 24h −0.124%

Price spread now: Orderly against Kraken Futures−0.089%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$43 a day on $10k at the current rate, and Orderly is 0.089% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MNTUSD	0.6441	0.1530	pay 0.0191% / 1h	40m 58s	$16K	$40K	20x
Short	Orderly PERP_MNT_USDC	0.6435	0.0100	get 0.0100% / 8h	7h 40m	$1K	$74	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now −0.089%Rate

Funding earned: −$300.29
Price spread: −0.089% → 0.000%: −$8.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$325.19
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Kraken Futures 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	0.6437	−0.052%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6427	−0.206%	$772	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.324%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6443	+0.037%	$146K	$88K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6435	−0.091%	$6.4M	$923K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6428	−0.198%	$42.3M	$15.2M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6423	−0.275%	$451K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6426	−0.229%	$2.4M	$104K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6427	−0.213%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6426	−0.229%	$40K	$61K	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	0.6442	+0.026%	$288K	$111K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6443	+0.035%	$11K	$638K	50x	as long as short
Orderly PERP_MNT_USDCshort	+0.0100%	8h	0.6435	−0.089%	$1K	$74	10x
BloFin MNT-USDT	+0.0301%	8h	0.6428	−0.198%	$91K	$188K	25x	as long as short
Kraken Futures PF_MNTUSDlong	+0.1530%	1h	0.6441	long leg	$16K	$40K	20x