Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.077%

Price spread now: Lighter against HTX−0.040%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.040% cheaper against HTX than usual: you would sell low and buy high (spread −0.040% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 4.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MINIMAX-USDT	37.802	0	get 0.0000% / 4h	3h 48m	$42K	$219K	20x
Short	Lighter MINIMAX	37.787	0.0032	get 0.0004% / 1h	48m 56s	$42K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: $6.72
Price spread: −0.040% → 0.000%: −$3.97
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.25
Costs to cover: 0.120%
Break-even: 16.6 days

Slippage unknown: HTX: live order book, 40 min ago; Lighter: 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 HTX live order book, 40 min ago	2.36 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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	37.870	+0.180%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.790	−0.032%	$456	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.870	+0.180%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDTlong	0.0000%	4h	37.802	long leg	$42K	$219K	20x
Lighter MINIMAXshort	+0.0032%	1h	37.787	−0.040%	$42K	$25K	10x
SoDEX MINIMAX-USD	+0.0050%	1h	37.789	−0.034%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.780	−0.058%	$26K	$42K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.783	−0.050%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0163%	1h	37.776	−0.069%	$4.4M	$2.9M	10x	as long as short
Bybit MINIMAXUSDT	+0.0167%	8h	37.820	+0.048%	$925K	$1.1M	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MINIMAXUSDT	+0.0283%	8h	37.792	−0.028%	$33K	$150K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0414%	4h	37.810	+0.021%	$100K	$39K	20x	as long as short
Extended MINIMAX-USD	+0.0680%	1h	37.814	+0.033%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0683%	4h	37.831	+0.076%	$6.3M	$30.8M	25x	as long as short
Bitget MINIMAXUSDT	+0.0705%	8h	37.837	+0.093%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1297%	8h	37.870	+0.180%	$2.6M	$8.3M	20x	as long as short
edgeX MINIMAXUSDC	+0.1709%	4h	37.768	−0.089%	$28K	$183K	10x	as long as short