Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1416%/8h= +155.0% APRpaid last 24h +0.173%

Price spread now: OKX against SunX−0.052%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1711.713% of the position

Long on SunX Short on OKX

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)−0.238%−$24 · spread now −0.052%, 7d avg −0.035%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$42 a day on $10k at the current rate.

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	SunX MINIMAX-USDT	38.100	0	get 0.0000% / 4h	14m 54s	$15	$2.4M	10x
Short	OKX MINIMAX-USDT-SWAP	38.080	0.1416	get 0.1416% / 8h	4h 14m	$2.6M	$8.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $297.3
Price spread: −0.052% → −0.035%: −$1.77
Slippage, 4 orders: −$153.33
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: $124.19
Costs to cover: 1.713%
Break-even: 4.1 days

Slippage from SunX: live order book, 2 min ago; OKX: live order book, 3 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, 2 min ago	31.48 bp	52.5 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.94 bp	16.9 bp −$17	88.1 bp −$881	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	38.090	−0.026%	$1.4M	$3.9M	50x	as long as short
SunX MINIMAX-USDTlong	0.0000%	4h	38.100	long leg	$15	$2.4M	10x
HTX MINIMAX-USDT	0.0000%	4h	38.066	−0.089%	$43K	$216K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.039	−0.160%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.040	−0.157%	$27K	$43K	5x	as long as short
Lighter MINIMAX	+0.0136%	1h	38.046	−0.142%	$43K	$25K	10x	as long as short
Aevo MINIMAX-PERP	+0.0168%	1h	38.063	−0.096%	—	—	10x	as long as short
edgeX MINIMAXUSDC	+0.0207%	4h	38.060	−0.106%	$29K	$184K	10x	as long as short
Bybit MINIMAXUSDT	+0.0317%	8h	38.050	−0.131%	$928K	$1.1M	25x	as long as short
Aster MINIMAXUSDT	+0.0390%	8h	38.083	−0.044%	$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
KuCoin MINIMAXUSDTM	+0.0558%	4h	38.030	−0.184%	$100K	$39K	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0854%	4h	38.099	−0.004%	$218	$126K	10x	as long as short
Bitget MINIMAXUSDT	+0.0876%	8h	38.044	−0.147%	$1.3M	$2.6M	20x	as long as short
Extended MINIMAX-USD	+0.0920%	1h	38.035	−0.172%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0922%	4h	38.025	−0.198%	$6.4M	$31.4M	25x	as long as short
tradeXYZ xyz:MINIMAX	+0.0945%	1h	38.052	−0.126%	$4.4M	$3.0M	10x	as long as short
OKX MINIMAX-USDT-SWAPshort	+0.1416%	8h	38.080	−0.052%	$2.6M	$8.4M	20x