Funding you earn now, next payment 00:00 UTC+0.0705%/8h= +77.2% APRnext payment +$7.05 per $10,000 · paid last 24h +0.037%
Price spread now: OKX against Bybit−0.075%7-day average +0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$111as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1241.241% of the position
Funding, last 7 days+0.134%+$13 on $10k
+Price spread, last 7 days+0.107%+$11 · spread now −0.075%, 7d avg +0.011%
=Funding pays, the price is against you. OKX is 0.087% cheaper against Bybit than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.011%). If the spread goes back, that is −$9 on $10k: about 10 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.134% in total) that is about 4.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.134% in total (about 7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$7.05 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 | Bybit MINIMAXUSDT | 39.800 | 0.0788 | pay 0.0788% / 8h | 17m 40s | $941K | $1.4M | 25x |
| Short | OKX MINIMAX-USDT-SWAP | 39.770 | 0.1493 | get 0.1493% / 8h | 17m 40s | $1.7M | $9.7M | 20x |
Bybit MINIMAXUSDT
OKX MINIMAX-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $148
- Price spread: −0.075% → +0.011%
- −$8.66
- Slippage, 4 orders
- −$103.07
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $15.27
- Costs to cover
- 1.241%
- Break-even
- 6.3 days
Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 5 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, 3 min ago | 3.76 bp | 38.5 bp −$38 | 178.1 bp −$1,781 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 2.51 bp | 12.6 bp −$13 | 192.9 bp −$1,929 | 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 | 39.810 | +0.025% | $1.2M | $6.2M | 50x | as long as short |
| SunX MINIMAX-USDT | 0.0000% | 4h | 39.850 | +0.126% | $16 | $3.9M | 10x | as long as short |
| HTX MINIMAX-USDT | 0.0000% | 4h | 39.839 | +0.098% | $38K | $71K | 20x | as long as short |
| SoDEX MINIMAX-USD | +0.0050% | 1h | 39.815 | +0.038% | $100K | $4K | 10x | as long as short |
| Lighter MINIMAX | +0.0064% | 1h | 39.858 | +0.146% | $46K | $27K | 10x | as long as short |
| Aster MINIMAXUSDT | +0.0289% | 8h | 39.721 | −0.198% | $34K | $152K | 20x | as long as short |
| Aevo MINIMAX-PERP | +0.0776% | 1h | 39.849 | +0.124% | — | — | 10x | as long as short |
| Bybit MINIMAXUSDTlong | +0.0788% | 8h | 39.800 | long leg | $941K | $1.4M | 25x | |
| tradeXYZ xyz:MINIMAX | +0.0858% | 1h | 39.778 | −0.055% | $4.6M | $2.9M | 10x | as long as short |
| KuCoin MINIMAXUSDTM | +0.1178% | 4h | 39.730 | −0.176% | $100K | $44K | 20x | as long as short |
Gate MINIMAX_USDT
SunX MINIMAX-USDT
HTX MINIMAX-USDT
SoDEX MINIMAX-USD
Lighter MINIMAX
Aster MINIMAXUSDT
Aevo MINIMAX-PERP
tradeXYZ xyz:MINIMAX
KuCoin MINIMAXUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps MINIMAX-USD.P | +0.1370% | 1h | 39.760 | −0.101% | $30K | $48K | 5x | as long as short |
| OKX MINIMAX-USDT-SWAPshort | +0.1493% | 8h | 39.770 | −0.075% | $1.7M | $9.7M | 20x | |
| Bitget MINIMAXUSDT | +0.1498% | 8h | 39.755 | −0.113% | $1.3M | $2.9M | 20x | as long as short |
| GRVT MINIMAX_USDT_Perp | +0.1504% | 4h | 39.880 | +0.201% | $430 | $138K | 10x | as long as short |
| edgeX MINIMAXUSDC | +0.1637% | 4h | 39.879 | +0.198% | $30K | $187K | 10x | as long as short |
| Binance MINIMAXUSDT | +0.1734% | 4h | 39.780 | −0.050% | $6.4M | $35.5M | 25x | as long as short |
| Extended MINIMAX-USD | +0.1744% | 1h | 39.742 | −0.145% | $3K | — | 10x | as long as short |
Ondo Perps MINIMAX-USD.P
Bitget MINIMAXUSDT
GRVT MINIMAX_USDT_Perp
edgeX MINIMAXUSDC
Binance MINIMAXUSDT
Extended MINIMAX-USD