Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.086%

Price spread now: SoDEX against KuCoin−0.143%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.143% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MINIMAXUSDTM	39.860	0.0100	pay 0.0050% / 4h	2h 57m	$100K	$44K	20x
Short	SoDEX MINIMAX-USD	39.803	0.0050	get 0.0006% / 1h	57m 35s	$100K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against KuCoin. 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 KuCoinbpFee SoDEXbpOrdersPrice spread, now −0.143%Rate

Funding earned: −$10.5
Price spread: −0.143% → 0.000%: −$14.3
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$44.8
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 17 min ago; SoDEX: 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 KuCoin live order book, 17 min ago	20.17 bp	55.2 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
edgeX MINIMAXUSDC	−0.0731%	4h	39.788	−0.180%	$30K	$186K	10x	as long as short
Gate MINIMAX_USDT	0.0000%	8h	39.920	+0.151%	$1.2M	$4.3M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	39.860	0.000%	$16	$3.8M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	39.836	−0.060%	$37K	$70K	20x	as long as short
Bybit MINIMAXUSDT	+0.0019%	8h	39.860	0.000%	$949K	$1.4M	25x	as long as short
SoDEX MINIMAX-USDshort	+0.0050%	1h	39.803	−0.143%	$100K	$4K	10x
Aster MINIMAXUSDT	+0.0089%	8h	39.698	−0.407%	$35K	$152K	20x	as long as short
KuCoin MINIMAXUSDTMlong	+0.0100%	4h	39.860	long leg	$100K	$44K	20x
Extended MINIMAX-USD	+0.0112%	1h	39.856	−0.011%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0136%	4h	39.878	+0.044%	$6.7M	$35.7M	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MINIMAX_USDT_Perp	+0.0164%	4h	39.790	−0.176%	$502	$130K	10x	as long as short
Aevo MINIMAX-PERP	+0.0440%	1h	39.788	−0.181%	—	—	10x	as long as short
Lighter MINIMAX	+0.0600%	1h	39.825	−0.088%	$46K	$23K	10x	as long as short
Bitget MINIMAXUSDT	+0.0913%	8h	39.906	+0.115%	$1.3M	$2.8M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1041%	8h	39.970	+0.276%	$1.7M	$9.7M	20x	as long as short
Ondo Perps MINIMAX-USD.P	+0.1598%	1h	39.640	−0.552%	$31K	$50K	5x	as long as short
tradeXYZ xyz:MINIMAX	+0.1718%	1h	39.811	−0.123%	$4.7M	$3.0M	10x	as long as short