Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1399%/8h= −153.2% APRpaid last 24h −0.173%

Price spread now: SunX against OKX+0.164%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1781.777% of the position

Long on OKX Short on SunX

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)−0.041%−$4 · spread now +0.164%, 7d avg +0.035%

Together, before fees−0.299%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.129% dearer against OKX than usual: you sell high and buy low (spread +0.164% now, against its 7-day average of +0.035%): +$13 on $10k if it goes back. Holding the pair costs −$42 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.258% in total) that is about 3.5 days.

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	36.480	0.1399	pay 0.1399% / 8h	49m 48s	$2.8M	$8.4M	20x
Short	SunX MINIMAX-USDT	36.540	0	get 0.0000% / 4h	49m 48s	$15	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.164%Rate

Funding earned: −$293.8
Price spread: +0.164% → +0.035%: $12.91
Slippage, 4 orders: −$159.74
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$458.63
Costs to cover: 1.777%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; SunX: live order book, 6 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, 3 min ago	2.74 bp	13.3 bp −$13	146.0 bp −$1,460	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	31.23 bp	87.7 bp −$88	doesn't fit	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
SunX MINIMAX-USDTshort	0.0000%	4h	36.540	+0.164%	$15	$1.7M	10x
HTX MINIMAX-USDT	0.0000%	4h	36.434	−0.126%	$49K	$232K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	36.457	−0.063%	$41K	$23K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.454	−0.071%	$91K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	36.480	0.000%	$23K	$51K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.463	−0.045%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0148%	1h	36.416	−0.175%	$4.7M	$3.2M	10x	as long as short
Gate MINIMAX_USDT	+0.0329%	8h	36.490	+0.027%	$1.3M	$2.8M	50x	as long as short
Bybit MINIMAXUSDT	+0.0400%	8h	36.430	−0.137%	$915K	$1.1M	25x	as long as short
Aster MINIMAXUSDT	+0.0585%	8h	36.531	+0.140%	$33K	$46K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0706%	4h	36.450	−0.082%	$96K	$36K	20x	as long as short
Bitget MINIMAXUSDT	+0.0712%	8h	36.446	−0.093%	$1.2M	$2.8M	20x	as long as short
edgeX MINIMAXUSDC	+0.0751%	4h	36.678	+0.541%	$28K	$183K	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0820%	4h	36.829	+0.957%	$271	$126K	10x	as long as short
Extended MINIMAX-USD	+0.0840%	1h	36.450	−0.082%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0847%	4h	36.440	−0.110%	$6.3M	$31.7M	25x	as long as short
OKX MINIMAX-USDT-SWAPlong	+0.1399%	8h	36.480	long leg	$2.8M	$8.4M	20x