Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1268%/8h= −138.8% APRpaid last 24h −0.173%

Price spread now: HTX against OKX+0.140%54s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.654% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 4 days (all we have)+0.358%+$36 · spread now +0.140%, 7d avg −0.022%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.163% dearer against OKX than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of −0.022%): +$16 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.258% in total) that is about 4.4 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.258% in total (about -13.4% 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	38.440	0.1268	pay 0.1268% / 8h	5h 02m	$2.6M	$8.6M	20x
Short	HTX MINIMAX-USDT	38.494	0	get 0.0000% / 4h	1h 02m	$43K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$266.23
Price spread: +0.140% → −0.022%: $16.26
Slippage, 4 orders: −$43.41
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$315.37
Costs to cover: 0.654%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; HTX: live order book, 31 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, 6 min ago	1.29 bp	13.4 bp −$13	81.3 bp −$813	doesn't fit	doesn't fit
Sell HTX live order book, 31 min ago	1.05 bp	21.1 bp −$21	42.4 bp −$424	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	38.360	−0.208%	$1.4M	$4.1M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.390	−0.130%	$15	$2.5M	10x	as long as short
HTX MINIMAX-USDTshort	0.0000%	4h	38.494	+0.140%	$43K	$218K	20x
Lighter MINIMAX	+0.0032%	1h	38.325	−0.299%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.453	+0.034%	$97K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.280	−0.416%	$29K	$38K	5x	as long as short
Aevo MINIMAX-PERP	+0.0232%	1h	38.330	−0.287%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0333%	8h	38.327	−0.294%	$34K	$150K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0367%	1h	38.314	−0.328%	$4.5M	$2.9M	10x	as long as short
Bybit MINIMAXUSDT	+0.0390%	8h	38.360	−0.208%	$941K	$1.1M	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0392%	4h	38.320	−0.312%	$97K	$36K	20x	as long as short
Binance MINIMAXUSDT	+0.0853%	4h	38.314	−0.328%	$6.5M	$31.3M	25x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	38.314	−0.327%	$3K	—	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0900%	4h	38.661	+0.575%	$721	$126K	10x	as long as short
Bitget MINIMAXUSDT	+0.0935%	8h	38.354	−0.224%	$1.3M	$2.6M	20x	as long as short
OKX MINIMAX-USDT-SWAPlong	+0.1268%	8h	38.440	long leg	$2.6M	$8.6M	20x
edgeX MINIMAXUSDC	+0.1389%	4h	38.661	+0.574%	$29K	$183K	10x	as long as short