Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0451%/8h= +49.4% APRpaid last 24h +0.052%

Price spread now: Backpack against MEXC+0.154%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.478%+$48 on $10k

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 +$14 a day on $10k at the current rate, and Backpack is 0.154% dearer against MEXC than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MNT_USDC	0.6485	0.0100	pay 0.0100% / 8h	5h 32m	$2.4M	$103K	125x
Short	Backpack MNT_USDC_PERP	0.6495	0.0551	get 0.0069% / 1h	32m 42s	$45K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.154%Rate

Funding earned: $94.78
Price spread: +0.154% → 0.000%: $15.42
Slippage, 4 orders: no order book: not counted
Fee MEXC: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $92.2
Costs to cover: 0.180%
Break-even: 0.2 days

Slippage unknown: MEXC: live order book, 4 min ago; Backpack: 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 MEXC live order book, 4 min ago	1.55 bp	10.8 bp −$11	45.1 bp −$451	164.1 bp −$16.4K	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	0.6492	+0.112%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0446%	1h	0.6484	−0.016%	$16K	$28K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6491	+0.092%	$779	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.632%	$3K	$210K	12x	as long as short
ApeX Omni MNTUSDT	+0.0087%	1h	0.6476	−0.139%	$11K	$643K	50x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6502	+0.270%	$6.7M	$880K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6491	+0.093%	$42.5M	$14.8M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6463	−0.339%	$426K	$170K	25x	as long as short
MEXC MNT_USDClong	+0.0100%	8h	0.6485	long leg	$2.4M	$103K	125x
BingX MNT-USDT	+0.0100%	8h	0.6490	+0.077%	—	$2.5M	—	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	0.6471	−0.212%	$287K	$173K	—	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6491	+0.093%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6492	+0.108%	$90K	$213K	25x	as long as short
Lighter MNT	+0.0256%	1h	0.6509	+0.376%	$143K	$75K	5x	as long as short
Backpack MNT_USDC_PERPshort	+0.0551%	1h	0.6495	+0.154%	$45K	$56K	10x