Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0386%/8h= −42.3% APRpaid last 24h −0.118%

Price spread now: Gate against KuCoin+0.156%7-day average +0.030% · you sell dearer than you buy

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

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.231%−$23 · spread now +0.156%, 7d avg +0.030%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.126% dearer against KuCoin than usual: you sell high and buy low (spread +0.156% now, against its 7-day average of +0.030%): +$13 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.053% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% 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	KuCoin MINIMAXUSDTM	38.440	0.0386	pay 0.0193% / 4h	1h 29m	$97K	$36K	20x
Short	Gate MINIMAX_USDT	38.500	0	get 0.0000% / 8h	5h 29m	$1.4M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.156%Rate

Funding earned: −$81.06
Price spread: +0.156% → +0.030%: $12.56
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$95.5
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: KuCoin: no order-book sample; Gate: live order book, 3 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 KuCoin no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	7.84 bp	30.3 bp −$30	218.7 bp −$2,187	doesn't fit	doesn't fit

KuCoin: 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_USDTshort	0.0000%	8h	38.500	+0.156%	$1.4M	$3.9M	50x
SunX MINIMAX-USDT	0.0000%	4h	38.510	+0.182%	$15	$2.6M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.494	+0.140%	$44K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.434	−0.016%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.463	+0.060%	$97K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.150	−0.754%	$29K	$38K	5x	as long as short
tradeXYZ xyz:MINIMAX	+0.0075%	1h	38.468	+0.073%	$4.4M	$2.9M	10x	as long as short
Aevo MINIMAX-PERP	+0.0312%	1h	38.470	+0.079%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0317%	8h	38.518	+0.202%	$34K	$150K	20x	as long as short
KuCoin MINIMAXUSDTMlong	+0.0386%	4h	38.440	long leg	$97K	$36K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MINIMAXUSDT	+0.0600%	8h	38.500	+0.156%	$917K	$1.1M	25x	as long as short
Binance MINIMAXUSDT	+0.0926%	4h	38.440	0.000%	$6.4M	$30.5M	25x	as long as short
Extended MINIMAX-USD	+0.0928%	1h	38.456	+0.042%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.1061%	8h	38.479	+0.101%	$1.3M	$2.5M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1164%	4h	38.189	−0.652%	$466	$124K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1217%	8h	38.520	+0.208%	$2.2M	$8.1M	20x	as long as short
edgeX MINIMAXUSDC	+0.1869%	4h	38.213	−0.591%	$29K	$184K	10x	as long as short