Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0118%/8h= −13.0% APRpaid last 24h −0.029%

Price spread now: Binance against OKX−0.293%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 2 days (all we have)+0.222%+$22 · spread now −0.293%, 7d avg −0.079%

Together, before fees+0.228%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.214% cheaper against OKX than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.079%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MINIMAX-USDT-SWAP	38.720	0.1351	pay 0.1351% / 8h	5h 55m	$2.2M	$8.6M	20x
Short	Binance MINIMAXUSDT	38.606	0.1232	get 0.0616% / 4h	1h 55m	$6.4M	$32.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now −0.293%Rate

Funding earned: −$24.85
Price spread: −0.293% → −0.079%: −$21.38
Slippage, 4 orders: −$58.96
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$125.19
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 16 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 OKX live order book, 2 min ago	2.57 bp	23.2 bp −$23	164.8 bp −$1,648	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	2.59 bp	14.0 bp −$14	33.6 bp −$336	166.1 bp −$16.6K	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
Gate MINIMAX_USDT	0.0000%	8h	38.710	−0.026%	$1.4M	$3.9M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.720	0.000%	$15	$3.0M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.711	−0.023%	$46K	$206K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.698	−0.057%	$97K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.760	+0.103%	$30K	$38K	5x	as long as short
Lighter MINIMAX	+0.0248%	1h	38.669	−0.132%	$43K	$25K	10x	as long as short
Aster MINIMAXUSDT	+0.0390%	8h	38.750	+0.078%	$34K	$150K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0409%	1h	38.679	−0.106%	$4.5M	$3.1M	10x	as long as short
Aevo MINIMAX-PERP	+0.0416%	1h	38.722	+0.004%	—	—	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0552%	4h	38.650	−0.181%	$98K	$37K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MINIMAXUSDC	+0.0794%	4h	38.726	+0.015%	$29K	$188K	10x	as long as short
Bybit MINIMAXUSDT	+0.1096%	8h	38.620	−0.258%	$924K	$1.2M	25x	as long as short
Extended MINIMAX-USD	+0.1232%	1h	38.624	−0.249%	$3K	—	10x	as long as short
Binance MINIMAXUSDTshort	+0.1232%	4h	38.606	−0.293%	$6.4M	$32.3M	25x
Bitget MINIMAXUSDT	+0.1249%	8h	38.662	−0.150%	$1.3M	$2.8M	20x	as long as short
OKX MINIMAX-USDT-SWAPlong	+0.1351%	8h	38.720	long leg	$2.2M	$8.6M	20x
GRVT MINIMAX_USDT_Perp	+0.2028%	4h	38.800	+0.206%	$252	$125K	10x	as long as short