Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.105%

Price spread now: BingX against Lighter−0.374%7-day average −0.165% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$860.865% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.245%+$24 · spread now −0.374%, 7d avg −0.165%

Together, before fees−0.073%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.209% cheaper against Lighter than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.165%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MNT	0.6437	0.0152	pay 0.0019% / 1h	46m 40s	$138K	$71K	5x
Short	BingX MNT-USDT	0.6413	0.0100	get 0.0100% / 8h	6h 46m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.374%Rate

Funding earned: −$10.92
Price spread: −0.374% → −0.165%: −$20.93
Slippage, 4 orders: −$76.48
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.33
Costs to cover: 0.865%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; BingX: live order book, 3 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 Lighter live order book, 3 min ago	8.38 bp	27.8 bp −$28	95.5 bp −$955	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	2.34 bp	17.8 bp −$18	84.3 bp −$843	298.7 bp −$29.9K	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	0.6419	−0.288%	$19	—	100x	as long as short
ApeX Omni MNTUSDT	−0.0701%	1h	0.6424	−0.204%	$11K	$638K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S −0.0008%	1h	0.6419	−0.283%	$12K	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.381%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6429	−0.121%	$6.6M	$940K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6416	−0.328%	$42.2M	$14.7M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6402	−0.545%	$412K	$163K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6415	−0.343%	$2.4M	$102K	125x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6413	−0.374%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6416	−0.328%	$285K	$173K	—	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	0.6431	−0.095%	$1K	—	10x	as long as short
Backpack MNT_USDC_PERP	+0.0117%	1h	0.6415	−0.343%	$40K	$49K	10x	as long as short
Lighter MNTlong	+0.0152%	1h	0.6437	long leg	$138K	$71K	5x
BloFin MNT-USDT	+0.0220%	8h	0.6418	−0.297%	$90K	$219K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0384%	1h	0.6428	−0.137%	$16K	$20K	20x	as long as short