Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h —

Price spread now: Lighter against Aevo+0.189%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.189% dearer against Aevo than usual: you sell high and buy low (spread +0.189% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MINIMAX-PERP	38.407	0.0416	pay 0.0052% / 1h	54m 31s	—	—	10x
Short	Lighter MINIMAX	38.480	0.0208	get 0.0026% / 1h	54m 31s	$43K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aevo. 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 AevobpFee LighterbpOrdersPrice spread, now +0.189%Rate

Funding earned: −$43.68
Price spread: +0.189% → 0.000%: $18.92
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.76
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Lighter: 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 Aevo no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

Aevo and Lighter: 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.

MINIMAX on 17 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
Gate MINIMAX_USDT	0.0000%	8h	38.520	+0.293%	$1.4M	$3.9M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.470	+0.163%	$15	$3.0M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.494	+0.226%	$45K	$206K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.400	−0.019%	$96K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.760	+0.918%	$30K	$38K	5x	as long as short
Lighter MINIMAXshort	+0.0208%	1h	38.480	+0.189%	$43K	$25K	10x
Aster MINIMAXUSDT	+0.0381%	8h	38.531	+0.321%	$34K	$150K	20x	as long as short
Aevo MINIMAX-PERPlong	+0.0416%	1h	38.407	long leg	—	—	10x
tradeXYZ xyz:MINIMAX	+0.0436%	1h	38.469	+0.161%	$4.5M	$2.8M	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0546%	4h	38.460	+0.137%	$97K	$37K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MINIMAXUSDT	+0.1058%	8h	38.480	+0.189%	$922K	$1.2M	25x	as long as short
edgeX MINIMAXUSDC	+0.1107%	4h	38.782	+0.975%	$29K	$187K	10x	as long as short
Binance MINIMAXUSDT	+0.1216%	4h	38.460	+0.137%	$6.4M	$32.2M	25x	as long as short
Extended MINIMAX-USD	+0.1224%	1h	38.459	+0.133%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.1237%	8h	38.473	+0.171%	$1.3M	$2.8M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1346%	8h	38.500	+0.241%	$2.2M	$8.5M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1950%	4h	38.770	+0.944%	$425	$124K	10x	as long as short