Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0999%/8h= −109.4% APRpaid last 24h −0.200%

Price spread now: Gate against GRVT+0.520%66s7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$171as 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−$1701.698% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.509%−$51 · spread now +0.520%, 7d avg +0.054%

Together, before fees−0.517%+ Points / potential airdropGRVT: Active · farm board−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.466% dearer against GRVT than usual: you sell high and buy low (spread +0.520% now, against its 7-day average of +0.054%): +$47 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 37 hours. At the pace of the last 7 days (−0.008% in total) that is about 14 months. The two prices were read 66 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 -0.008% in total (about -0.4% 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	GRVT MINIMAX_USDT_Perp	37.336	0.1098	pay 0.0549% / 4h	2h 12m	$329	$126K	10x
Short	Gate MINIMAX_USDT	37.530	0.0099	get 0.0099% / 8h	2h 12m	$1.3M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpFee GatebpOrdersPrice spread, now +0.520%Rate

Funding earned: −$209.79
Price spread: +0.520% → +0.054%: $46.61
Slippage, 4 orders: −$145.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$333
Costs to cover: 1.698%
Break-even: never at this rate

Slippage from GRVT: live order book, 30 min ago; Gate: live order book, 6 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 GRVT live order book, 30 min ago	5.39 bp	15.2 bp −$15	88.8 bp −$888	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	6.69 bp	64.8 bp −$65	236.1 bp −$2,361	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
edgeX MINIMAXUSDC	−0.0139%	4h	37.361	+0.067%	$28K	$184K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.430	+0.252%	$15	$2.1M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.400	+0.172%	$47K	$234K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.381	+0.121%	$94K	$3K	10x	as long as short
Gate MINIMAX_USDTshort	+0.0099%	8h	37.530	+0.520%	$1.3M	$3.5M	50x
Aevo MINIMAX-PERP	+0.0104%	1h	37.484	+0.397%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0392%	8h	37.490	+0.413%	$925K	$1.1M	25x	as long as short
KuCoin MINIMAXUSDTM	+0.0438%	4h	37.350	+0.038%	$98K	$38K	20x	as long as short
Aster MINIMAXUSDT	+0.0456%	8h	37.500	+0.440%	$33K	$45K	20x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0490%	1h	37.290	−0.123%	$24K	$50K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MINIMAX	+0.0552%	1h	37.462	+0.338%	$42K	$25K	10x	as long as short
Bitget MINIMAXUSDT	+0.0633%	8h	37.483	+0.394%	$1.2M	$2.8M	20x	as long as short
Extended MINIMAX-USD	+0.0640%	1h	37.478	+0.380%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0665%	4h	37.470	+0.359%	$6.5M	$32.4M	25x	as long as short
GRVT MINIMAX_USDT_Perplong	+0.1098%	4h	37.336	long leg	$329	$126K	10x
tradeXYZ xyz:MINIMAX	+0.1125%	1h	37.431	+0.255%	$4.5M	$3.3M	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1295%	8h	37.540	+0.547%	$2.9M	$8.6M	20x	as long as short