Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0292%/8h= −31.9% APRpaid last 24h −0.089%

Price spread now: GMX against Orderly−0.160%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

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 −$9 a day on $10k at the current rate, and GMX is 0.160% cheaper against Orderly than usual: you would sell low and buy high (−$16 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	Orderly PERP_MNT_USDC	0.6413	0.0100	pay 0.0100% / 8h	7h 30m	$1K	$74	10x
Short	GMX MNT/USD [ETH-USDC]	0.6403	L −0.2622% / S +0.0192%	pay 0.0024% / 1h	30m 11s	$19	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$61.26
Price spread: −0.160% → 0.000%: −$15.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$95.24
Costs to cover: 0.180%
Break-even: never at this rate

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

Orderly and GMX: 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]short	L −0.2622% / S +0.0192%	1h	0.6403	−0.160%	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6403	−0.149%	$769	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.762%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6417	+0.062%	$144K	$90K	5x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6408	−0.086%	$6.4M	$915K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6398	−0.231%	$42.1M	$15.2M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6407	−0.094%	$450K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6399	−0.218%	$2.3M	$105K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6400	−0.203%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6401	−0.187%	$39K	$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	0.6397	−0.243%	$287K	$111K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6414	+0.016%	$11K	$642K	50x	as long as short
Orderly PERP_MNT_USDClong	+0.0100%	8h	0.6413	long leg	$1K	$74	10x
BloFin MNT-USDT	+0.0303%	8h	0.6407	−0.094%	$91K	$187K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.1540%	1h	0.6400	−0.207%	$16K	$40K	20x	as long as short