Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1289%/8h= −141.1% APRpaid last 24h +0.005%

Price spread now: GRVT against OKX−0.211%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1001.001% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.168%+$17 · spread now −0.211%, 7d avg −0.070%

Together, before fees+0.155%+ Points / potential airdropGRVT: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and GRVT is 0.141% cheaper against OKX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% 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	OKX MINIMAX-USDT-SWAP	37.890	0.1289	pay 0.1289% / 8h	3h 46m	$2.6M	$8.3M	20x
Short	GRVT MINIMAX_USDT_Perp	37.810	0	get 0.0000% / 4h	3h 46m	$457	$126K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.211%Rate

Funding earned: −$270.61
Price spread: −0.211% → −0.070%: −$14.12
Slippage, 4 orders: −$81.14
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$384.88
Costs to cover: 1.001%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; GRVT: live order book, 1 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, 1 min ago	2.64 bp	18.8 bp −$19	152.9 bp −$1,529	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	5.28 bp	35.3 bp −$35	84.6 bp −$846	doesn't fit	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	37.900	+0.026%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perpshort	0.0000%	4h	37.810	−0.211%	$457	$126K	10x
SunX MINIMAX-USDT	0.0000%	4h	37.890	0.000%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.844	−0.121%	$43K	$219K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	37.812	−0.206%	$42K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.825	−0.172%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.780	−0.290%	$26K	$42K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.812	−0.205%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0162%	8h	37.880	−0.026%	$927K	$1.1M	25x	as long as short
tradeXYZ xyz:MINIMAX	+0.0252%	1h	37.812	−0.206%	$4.4M	$2.9M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MINIMAXUSDT	+0.0278%	8h	37.808	−0.217%	$34K	$150K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0406%	4h	37.830	−0.158%	$100K	$39K	20x	as long as short
Binance MINIMAXUSDT	+0.0670%	4h	37.861	−0.077%	$6.3M	$30.8M	25x	as long as short
Extended MINIMAX-USD	+0.0672%	1h	37.848	−0.112%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0696%	8h	37.855	−0.092%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAPlong	+0.1289%	8h	37.890	long leg	$2.6M	$8.3M	20x
edgeX MINIMAXUSDC	+0.1484%	4h	37.816	−0.195%	$28K	$183K	10x	as long as short