Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h −0.013%

Price spread now: Bybit against Lighter+0.016%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$10 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	Lighter MINIMAX	36.614	0.0032	pay 0.0004% / 1h	19m 01s	$41K	$23K	10x
Short	Bybit MINIMAXUSDT	36.620	0.0370	get 0.0370% / 8h	19m 01s	$927K	$932K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $70.98
Price spread: +0.016% → 0.000%: $1.64
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $61.61
Costs to cover: 0.110%
Break-even: 0.9 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 11 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 Lighter no order-book sample	—	—	—	—	—
Sell Bybit live order book, 11 min ago	5.47 bp	48.1 bp −$48	334.3 bp −$3,343	doesn't fit	doesn't fit

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
edgeX MINIMAXUSDC	−0.0125%	4h	36.585	−0.079%	$28K	$183K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	36.660	+0.126%	$15	$1.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.695	+0.221%	$49K	$232K	20x	as long as short
Lighter MINIMAXlong	+0.0032%	1h	36.614	long leg	$41K	$23K	10x
SoDEX MINIMAX-USD	+0.0050%	1h	36.609	−0.014%	$92K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	36.450	−0.448%	$23K	$53K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.624	+0.028%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0308%	1h	36.578	−0.098%	$4.8M	$3.3M	10x	as long as short
Bybit MINIMAXUSDTshort	+0.0370%	8h	36.620	+0.016%	$927K	$932K	25x
Gate MINIMAX_USDT	+0.0400%	8h	36.670	+0.153%	$1.3M	$2.9M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MINIMAXUSDT	+0.0587%	8h	36.561	−0.145%	$33K	$6K	20x	as long as short
Bitget MINIMAXUSDT	+0.0704%	8h	36.593	−0.057%	$1.2M	$2.7M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0718%	4h	36.605	−0.023%	$871	$120K	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0768%	4h	36.610	−0.011%	$96K	$48K	20x	as long as short
Binance MINIMAXUSDT	+0.0855%	4h	36.611	−0.008%	$6.4M	$29.9M	25x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	36.603	−0.031%	$3K	—	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1406%	8h	36.640	+0.071%	$2.8M	$8.0M	20x	as long as short