Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0352%/8h= +38.6% APRpaid last 24h +0.053%

Price spread now: Bybit against SoDEX+0.055%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bybit is 0.055% dearer against SoDEX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MINIMAX-USD	36.470	0.0050	pay 0.0006% / 1h	37m 22s	$92K	$3K	10x
Short	Bybit MINIMAXUSDT	36.490	0.0402	get 0.0402% / 8h	37m 22s	$920K	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.055%Rate

Funding earned: $73.97
Price spread: +0.055% → 0.000%: $5.48
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $60.45
Costs to cover: 0.190%
Break-even: 1.3 days

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 3 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	4.12 bp	43.4 bp −$43	197.2 bp −$1,972	doesn't fit	doesn't fit

SoDEX: 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
SunX MINIMAX-USDT	0.0000%	4h	36.520	+0.137%	$15	$1.4M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.551	+0.222%	$49K	$233K	20x	as long as short
SoDEX MINIMAX-USDlong	+0.0050%	1h	36.470	long leg	$92K	$3K	10x
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	36.530	+0.165%	$23K	$52K	5x	as long as short
Lighter MINIMAX	+0.0056%	1h	36.482	+0.033%	$41K	$23K	10x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.481	+0.031%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0334%	1h	36.482	+0.033%	$4.8M	$3.3M	10x	as long as short
Gate MINIMAX_USDT	+0.0363%	8h	36.590	+0.329%	$1.3M	$2.9M	50x	as long as short
Bybit MINIMAXUSDTshort	+0.0402%	8h	36.490	+0.055%	$920K	$1.0M	25x
Aster MINIMAXUSDT	+0.0589%	8h	36.460	−0.027%	$32K	$6K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MINIMAXUSDT	+0.0715%	8h	36.441	−0.080%	$1.2M	$2.8M	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0744%	4h	36.490	+0.055%	$96K	$35K	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0766%	4h	36.460	−0.027%	$1K	$123K	10x	as long as short
edgeX MINIMAXUSDC	+0.0846%	4h	36.459	−0.030%	$27K	$183K	10x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	36.460	−0.026%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0857%	4h	36.470	0.000%	$6.3M	$30.8M	25x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1410%	8h	36.470	0.000%	$2.8M	$8.1M	20x	as long as short