Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h −0.139%

Price spread now: Bybit against tradeXYZ−0.023%7-day average +0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1381.377% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.337%−$34 on $10k

Price spread, last 7 days+0.101%+$10 · spread now −0.023%, 7d avg +0.075%

Together, before fees−0.237%+ Points / potential airdroptradeXYZ: Active · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.098% cheaper against tradeXYZ than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MINIMAX	38.459	0.0380	pay 0.0048% / 1h	0m 29s	$4.5M	$2.9M	10x
Short	Bybit MINIMAXUSDT	38.450	0.0376	get 0.0376% / 8h	5h 00m	$945K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$1.01
Price spread: −0.023% → +0.075%: −$9.8
Slippage, 4 orders: −$108.71
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$148.52
Costs to cover: 1.377%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; Bybit: live order book, 5 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 tradeXYZ live order book, 8 min ago	2.84 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.87 bp	55.4 bp −$55	170.3 bp −$1,703	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	38.470	+0.029%	$1.4M	$4.1M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.480	+0.055%	$15	$2.5M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.386	−0.190%	$43K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.428	−0.081%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.408	−0.133%	$96K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.280	−0.465%	$29K	$38K	5x	as long as short
Aevo MINIMAX-PERP	+0.0232%	1h	38.416	−0.112%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0331%	8h	38.451	−0.020%	$34K	$150K	20x	as long as short
Bybit MINIMAXUSDTshort	+0.0376%	8h	38.450	−0.023%	$945K	$1.1M	25x
tradeXYZ xyz:MINIMAXlong	+0.0380%	1h	38.459	long leg	$4.5M	$2.9M	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0396%	4h	38.450	−0.023%	$97K	$36K	20x	as long as short
Binance MINIMAXUSDT	+0.0850%	4h	38.419	−0.105%	$6.5M	$31.2M	25x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	38.425	−0.089%	$3K	—	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0876%	4h	38.463	+0.009%	$717	$126K	10x	as long as short
Bitget MINIMAXUSDT	+0.0929%	8h	38.419	−0.104%	$1.3M	$2.6M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1270%	8h	38.510	+0.133%	$2.6M	$8.6M	20x	as long as short
edgeX MINIMAXUSDC	+0.1389%	4h	38.661	+0.524%	$29K	$183K	10x	as long as short