Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: HTX against SoDEX+0.109%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 HTX

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

The price spread pays, funding is against you. HTX is 0.109% dearer against SoDEX than usual: you sell high and buy low (spread +0.109% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MINIMAX-USD	37.788	0.0050	pay 0.0006% / 1h	42m 18s	$95K	$3K	10x
Short	HTX MINIMAX-USDT	37.829	0	get 0.0000% / 4h	3h 42m	$43K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$10.5
Price spread: +0.109% → 0.000%: $10.85
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$19.65
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; HTX: live order book, 46 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 HTX live order book, 46 min ago	2.36 bp	20.0 bp −$20	66.5 bp −$665	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
Gate MINIMAX_USDT	0.0000%	8h	37.870	+0.217%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.880	+0.243%	$452	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.820	+0.085%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDTshort	0.0000%	4h	37.829	+0.109%	$43K	$219K	20x
Lighter MINIMAX	+0.0032%	1h	37.830	+0.111%	$42K	$25K	10x	as long as short
SoDEX MINIMAX-USDlong	+0.0050%	1h	37.788	long leg	$95K	$3K	10x
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.890	+0.270%	$26K	$42K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.798	+0.027%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0172%	8h	37.820	+0.085%	$926K	$1.1M	25x	as long as short
Aster MINIMAXUSDT	+0.0259%	8h	37.835	+0.125%	$34K	$150K	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	+0.0366%	4h	37.850	+0.165%	$29K	$184K	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0408%	4h	37.850	+0.164%	$100K	$39K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0412%	1h	37.802	+0.037%	$4.4M	$2.9M	10x	as long as short
Binance MINIMAXUSDT	+0.0671%	4h	37.818	+0.079%	$6.3M	$30.8M	25x	as long as short
Extended MINIMAX-USD	+0.0672%	1h	37.807	+0.050%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0692%	8h	37.807	+0.050%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1268%	8h	37.810	+0.058%	$2.6M	$8.3M	20x	as long as short