Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.053%

Price spread now: SoDEX against Bybit−0.056%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.056% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MINIMAXUSDT	37.730	0.0059	pay 0.0059% / 8h	3h 18m	$925K	$1.0M	25x
Short	SoDEX MINIMAX-USD	37.709	0.0050	get 0.0006% / 1h	18m 42s	$95K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$1.89
Price spread: −0.056% → 0.000%: −$5.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$26.46
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; SoDEX: 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 Bybit live order book, 2 min ago	2.65 bp	43.5 bp −$44	294.1 bp −$2,941	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	37.750	+0.053%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.756	+0.070%	$430	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.730	0.000%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.724	−0.016%	$42K	$220K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	37.711	−0.050%	$42K	$25K	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0050%	1h	37.712	−0.048%	$4.4M	$2.9M	10x	as long as short
SoDEX MINIMAX-USDshort	+0.0050%	1h	37.709	−0.056%	$95K	$3K	10x
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.650	−0.212%	$26K	$41K	5x	as long as short
Bybit MINIMAXUSDTlong	+0.0059%	8h	37.730	long leg	$925K	$1.0M	25x
KuCoin MINIMAXUSDTM	+0.0102%	4h	37.710	−0.053%	$100K	$38K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo MINIMAX-PERP	+0.0104%	1h	37.723	−0.019%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0172%	8h	37.766	+0.096%	$33K	$150K	20x	as long as short
Binance MINIMAXUSDT	+0.0270%	4h	37.700	−0.080%	$6.3M	$30.8M	25x	as long as short
Extended MINIMAX-USD	+0.0296%	1h	37.690	−0.107%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0488%	8h	37.694	−0.095%	$1.3M	$2.7M	20x	as long as short
edgeX MINIMAXUSDC	+0.0773%	4h	37.732	+0.004%	$28K	$183K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1088%	8h	37.710	−0.053%	$2.7M	$8.2M	20x	as long as short