Funding you earn now, next payment 00:00 UTC+0.1740%/8h= +190.6% APRpaid last 24h +0.084%
Price spread now: Binance against Bybit−0.047%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$1141.138% of the position
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 2 days (all we have)+0.077%+$8 · spread now −0.047%, 7d avg −0.013%
=Funding pays, the price is against you. Binance is 0.034% cheaper against Bybit than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.013%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$52 a day). At the pace of the last 7 days (+0.197% in total) that is about 29 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.197% in total (about 10.3% a year). A funding rate is set anew for every payment. 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 | Bybit MINIMAXUSDT | 39.640 | 0.1056 | pay 0.1056% / 8h | 1h 16m | $938K | $1.4M | 25x |
| Short | Binance MINIMAXUSDT | 39.621 | 0.2797 | get 0.1398% / 4h | 1h 16m | $6.3M | $35.2M | 25x |
Bybit MINIMAXUSDT
Binance MINIMAXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $365.5
- Price spread: −0.047% → −0.013%
- −$3.42
- Slippage, 4 orders
- −$92.76
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $248.31
- Costs to cover
- 1.138%
- Break-even
- 2.2 days
Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 10 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 Bybit live order book, 4 min ago | 3.77 bp | 49.8 bp −$50 | 206.3 bp −$2,063 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 1.26 bp | 15.4 bp −$15 | 39.6 bp −$396 | 202.3 bp −$20.2K | 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX MINIMAX-USDT | 0.0000% | 4h | 39.660 | +0.050% | $16 | $3.9M | 10x | as long as short |
| HTX MINIMAX-USDT | 0.0000% | 4h | 39.638 | −0.005% | $37K | $70K | 20x | as long as short |
| Gate MINIMAX_USDT | +0.0032% | 8h | 39.640 | 0.000% | $1.2M | $6.3M | 50x | as long as short |
| SoDEX MINIMAX-USD | +0.0050% | 1h | 39.625 | −0.038% | $99K | $4K | 10x | as long as short |
| Aster MINIMAXUSDT | +0.0366% | 8h | 39.616 | −0.061% | $34K | $152K | 20x | as long as short |
| Lighter MINIMAX | +0.0368% | 1h | 39.680 | +0.101% | $46K | $27K | 10x | as long as short |
| Aevo MINIMAX-PERP | +0.0912% | 1h | 39.670 | +0.077% | — | — | 10x | as long as short |
| Bybit MINIMAXUSDTlong | +0.1056% | 8h | 39.640 | long leg | $938K | $1.4M | 25x | |
| tradeXYZ xyz:MINIMAX | +0.1303% | 1h | 39.605 | −0.088% | $4.6M | $2.9M | 10x | as long as short |
| OKX MINIMAX-USDT-SWAP | +0.1704% | 8h | 39.640 | 0.000% | $1.6M | $9.6M | 20x | as long as short |
SunX MINIMAX-USDT
HTX MINIMAX-USDT
Gate MINIMAX_USDT
SoDEX MINIMAX-USD
Aster MINIMAXUSDT
Lighter MINIMAX
Aevo MINIMAX-PERP
tradeXYZ xyz:MINIMAX
OKX MINIMAX-USDT-SWAPShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MINIMAXUSDT | +0.1746% | 8h | 39.631 | −0.023% | $1.3M | $2.8M | 20x | as long as short |
| KuCoin MINIMAXUSDTM | +0.1948% | 4h | 39.630 | −0.025% | $100K | $44K | 20x | as long as short |
| edgeX MINIMAXUSDC | +0.2235% | 4h | 39.764 | +0.313% | $30K | $187K | 10x | as long as short |
| GRVT MINIMAX_USDT_Perp | +0.2572% | 4h | 39.630 | −0.026% | $296 | $140K | 10x | as long as short |
| Binance MINIMAXUSDTshort | +0.2797% | 4h | 39.621 | −0.047% | $6.3M | $35.2M | 25x | |
| Extended MINIMAX-USD | +0.2800% | 1h | 39.613 | −0.067% | $3K | — | 10x | as long as short |
| Ondo Perps MINIMAX-USD.P | +0.3081% | 1h | 39.480 | −0.404% | $30K | $48K | 5x | as long as short |
Bitget MINIMAXUSDT
KuCoin MINIMAXUSDTM
edgeX MINIMAXUSDC
GRVT MINIMAX_USDT_Perp
Extended MINIMAX-USD
Ondo Perps MINIMAX-USD.P