MINIMAX

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0867%/8h= −94.9% APRnext payment −$4.33 per $10,000 · paid last 24h −0.146%

Price spread now: SunX against Binance+0.223%46s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1691.688% of the position

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.223%, 7d avg +0.022%

Together, before fees−0.409%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.200% dearer against Binance than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of +0.022%): +$20 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.265% in total) that is about 5.3 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.265% in total (about -13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MINIMAXUSDT	38.624	0.0867	pay 0.0433% / 4h	1h 04m	$6.5M	$31.3M	25x
Short	SunX MINIMAX-USDT	38.710	0	get 0.0000% / 4h	1h 04m	$15	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Binance. 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 BinancebpFee SunXbpOrdersPrice spread, now +0.223%Rate

Funding earned: −$182.05
Price spread: +0.223% → +0.022%: $20.04
Slippage, 4 orders: −$150.77
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$330.78
Costs to cover: 1.688%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; SunX: 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 Binance live order book, 7 min ago	2.60 bp	11.4 bp −$11	29.8 bp −$298	191.3 bp −$19.1K	doesn't fit
Sell SunX live order book, 3 min ago	33.45 bp	88.1 bp −$88	doesn't fit	doesn't fit	doesn't fit

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	38.680	+0.145%	$1.4M	$4.1M	50x	as long as short
SunX MINIMAX-USDTshort	0.0000%	4h	38.710	+0.223%	$15	$2.5M	10x
HTX MINIMAX-USDT	0.0000%	4h	38.711	+0.225%	$44K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.645	+0.054%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.668	+0.114%	$97K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.740	+0.300%	$29K	$39K	5x	as long as short
edgeX MINIMAXUSDC	+0.0155%	4h	38.731	+0.277%	$29K	$183K	10x	as long as short
Aevo MINIMAX-PERP	+0.0240%	1h	38.665	+0.105%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0337%	8h	38.658	+0.087%	$34K	$150K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0352%	1h	38.615	−0.023%	$4.5M	$2.9M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0388%	4h	38.620	−0.010%	$98K	$36K	20x	as long as short
Bybit MINIMAXUSDT	+0.0402%	8h	38.650	+0.067%	$948K	$1.1M	25x	as long as short
Binance MINIMAXUSDTlong	+0.0867%	4h	38.624	long leg	$6.5M	$31.3M	25x
Extended MINIMAX-USD	+0.0880%	1h	38.622	−0.006%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0946%	8h	38.633	+0.023%	$1.3M	$2.6M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0950%	4h	38.651	+0.070%	$721	$126K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1260%	8h	38.710	+0.223%	$2.6M	$8.6M	20x	as long as short