Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.095%

Price spread now: Bybit against Extended+0.049%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bybit is 0.049% dearer against Extended than usual: you sell high and buy low: +$5 more if the spread 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	Extended MINIMAX-USD	38.411	0.1296	pay 0.0162% / 1h	3m 57s	$3K	—	10x
Short	Bybit MINIMAXUSDT	38.430	0.1308	get 0.1308% / 8h	6h 03m	$921K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.049%Rate

Funding earned: $2.59
Price spread: +0.049% → 0.000%: $4.9
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.51
Costs to cover: 0.160%
Break-even: 30.0 days

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 2 min ago. 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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	3.90 bp	57.6 bp −$58	205.6 bp −$2,056	doesn't fit	doesn't fit

Extended: 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	38.460	+0.127%	$1.4M	$4.8M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.440	+0.075%	$15	$3.1M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.354	−0.149%	$45K	$215K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.368	−0.112%	$96K	$4K	10x	as long as short
Aster MINIMAXUSDT	+0.0389%	8h	38.473	+0.161%	$34K	$150K	20x	as long as short
Aevo MINIMAX-PERP	+0.0448%	1h	38.387	−0.063%	—	—	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0596%	4h	38.420	+0.023%	$97K	$38K	20x	as long as short
Lighter MINIMAX	+0.1240%	1h	38.364	−0.123%	$43K	$26K	10x	as long as short
edgeX MINIMAXUSDC	+0.1261%	4h	38.481	+0.182%	$29K	$188K	10x	as long as short
Extended MINIMAX-USDlong	+0.1296%	1h	38.411	long leg	$3K	—	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MINIMAXUSDT	+0.1296%	8h	38.465	+0.140%	$1.4M	$2.7M	20x	as long as short
Binance MINIMAXUSDT	+0.1299%	4h	38.430	+0.049%	$6.6M	$32.4M	25x	as long as short
Bybit MINIMAXUSDTshort	+0.1308%	8h	38.430	+0.049%	$921K	$1.2M	25x
OKX MINIMAX-USDT-SWAP	+0.1357%	8h	38.490	+0.205%	$2.2M	$8.6M	20x	as long as short
Ondo Perps MINIMAX-USD.P	+0.2142%	1h	38.400	−0.029%	$30K	$39K	5x	as long as short
tradeXYZ xyz:MINIMAX	+0.2194%	1h	38.409	−0.006%	$4.5M	$3.1M	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.2412%	4h	38.623	+0.552%	$143	$126K	10x	as long as short