Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.178%

Price spread now: GRVT against HTX+0.825%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$1191.189% of the position

Long on HTX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.244%+$24 on $10k

Price spread, last 4 days (all we have)−1.066%−$107 · spread now +0.825%, 7d avg −0.057%

Together, before fees−0.821%+ Points / potential airdropGRVT: Active · farm board−$82 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.882% dearer against HTX than usual: you sell high and buy low, +$88 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MINIMAX-USDT	37.193	0	get 0.0000% / 4h	2h 50m	$42K	$225K	20x
Short	GRVT MINIMAX_USDT_Perp	37.500	0	get 0.0000% / 4h	2h 50m	$307	$127K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against HTX. 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 HTXbpFee GRVTbpOrdersPrice spread, now +0.825%Rate

Funding earned: $0
Price spread: +0.825% → −0.057%: $88.25
Slippage, 4 orders: −$97.9
Fee HTX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$30.65
Costs to cover: 1.189%
Break-even: never at this rate

Slippage from HTX: live order book, 33 min ago; GRVT: live order book, 57 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 HTX live order book, 33 min ago	5.30 bp	19.7 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 57 min ago	5.28 bp	35.3 bp −$35	84.6 bp −$846	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	−0.0548%	4h	37.509	+0.850%	$28K	$183K	10x	as long as short
Gate MINIMAX_USDT	0.0000%	8h	37.240	+0.126%	$1.3M	$3.3M	50x	as long as short
GRVT MINIMAX_USDT_Perpshort	0.0000%	4h	37.500	+0.825%	$307	$127K	10x
SunX MINIMAX-USDT	0.0000%	4h	37.100	−0.250%	$15	$2.2M	10x	as long as short
HTX MINIMAX-USDTlong	0.0000%	4h	37.193	long leg	$42K	$225K	20x
Extended MINIMAX-USD	+0.0016%	1h	37.150	−0.116%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0034%	4h	37.250	+0.153%	$6.3M	$31.8M	25x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.156	−0.099%	$93K	$3K	10x	as long as short
Bybit MINIMAXUSDT	+0.0052%	8h	37.260	+0.180%	$915K	$1.1M	25x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0074%	1h	37.220	+0.073%	$24K	$47K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0100%	4h	37.120	−0.196%	$98K	$37K	20x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.079	−0.306%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0144%	8h	37.123	−0.187%	$33K	$45K	20x	as long as short
Lighter MINIMAX	+0.0216%	1h	37.215	+0.059%	$42K	$25K	10x	as long as short
Bitget MINIMAXUSDT	+0.0369%	8h	37.256	+0.169%	$1.2M	$2.8M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.0964%	8h	37.310	+0.315%	$2.7M	$8.3M	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0969%	1h	37.214	+0.056%	$4.3M	$2.9M	10x	as long as short