Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0381%/8h= +41.8% APRpaid last 24h +0.068%

Price spread now: Bybit against SunX0.000%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2342.344% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 4 days (all we have)−0.205%−$20 · spread now 0.000%, 7d avg −0.065%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Bybit is 0.065% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.065%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% 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	SunX MINIMAX-USDT	37.430	0	get 0.0000% / 4h	2h 13m	$15	$2.1M	10x
Short	Bybit MINIMAXUSDT	37.430	0.0381	get 0.0381% / 8h	2h 13m	$924K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $80.1
Price spread: 0.000% → −0.065%: $6.5
Slippage, 4 orders: −$215.42
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$147.82
Costs to cover: 2.344%
Break-even: 19.9 days

Slippage from SunX: live order book, 3 min ago; Bybit: live order book, 2 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 SunX live order book, 3 min ago	34.69 bp	57.0 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.02 bp	42.3 bp −$42	165.7 bp −$1,657	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
edgeX MINIMAXUSDC	−0.0139%	4h	37.361	−0.185%	$28K	$184K	10x	as long as short
SunX MINIMAX-USDTlong	0.0000%	4h	37.430	long leg	$15	$2.1M	10x
HTX MINIMAX-USDT	0.0000%	4h	37.400	−0.080%	$47K	$234K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.381	−0.131%	$94K	$3K	10x	as long as short
Gate MINIMAX_USDT	+0.0088%	8h	37.460	+0.080%	$1.3M	$3.5M	50x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.375	−0.147%	—	—	10x	as long as short
Bybit MINIMAXUSDTshort	+0.0381%	8h	37.430	0.000%	$924K	$1.1M	25x
KuCoin MINIMAXUSDTM	+0.0426%	4h	37.260	−0.454%	$98K	$38K	20x	as long as short
Aster MINIMAXUSDT	+0.0444%	8h	37.482	+0.138%	$33K	$45K	20x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0478%	1h	37.290	−0.374%	$24K	$50K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MINIMAX	+0.0552%	1h	37.424	−0.016%	$42K	$25K	10x	as long as short
Bitget MINIMAXUSDT	+0.0623%	8h	37.422	−0.021%	$1.2M	$2.8M	20x	as long as short
Extended MINIMAX-USD	+0.0640%	1h	37.380	−0.134%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0642%	4h	37.449	+0.050%	$6.5M	$32.4M	25x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1098%	4h	37.336	−0.252%	$329	$126K	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.1123%	1h	37.377	−0.142%	$4.5M	$3.3M	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1285%	8h	37.470	+0.107%	$2.9M	$8.6M	20x	as long as short