Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0475%/8h= −52.0% APRpaid last 24h −0.078%

Price spread now: Bybit against Binance+0.082%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1301.302% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 7 days−0.098%−$10 · spread now +0.082%, 7d avg −0.008%

Together, before fees−0.288%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.090% dearer against Binance than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of −0.008%): +$9 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.190% in total) that is about 3.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.190% in total (about -9.9% 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	Binance MINIMAXUSDT	38.419	0.0850	pay 0.0425% / 4h	1h 00m	$6.5M	$31.2M	25x
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 Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$99.72
Price spread: +0.082% → −0.008%: $8.98
Slippage, 4 orders: −$109.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$220.98
Costs to cover: 1.302%
Break-even: never at this rate

Slippage from Binance: live order book, 11 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 Binance live order book, 11 min ago	2.60 bp	11.4 bp −$11	29.8 bp −$298	191.3 bp −$19.1K	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	+0.134%	$1.4M	$4.1M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.480	+0.160%	$15	$2.5M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.386	−0.085%	$43K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.428	+0.024%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.408	−0.028%	$96K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.280	−0.361%	$29K	$38K	5x	as long as short
Aevo MINIMAX-PERP	+0.0232%	1h	38.416	−0.007%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0331%	8h	38.451	+0.085%	$34K	$150K	20x	as long as short
Bybit MINIMAXUSDTshort	+0.0376%	8h	38.450	+0.082%	$945K	$1.1M	25x
tradeXYZ xyz:MINIMAX	+0.0380%	1h	38.459	+0.105%	$4.5M	$2.9M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0396%	4h	38.450	+0.082%	$97K	$36K	20x	as long as short
Binance MINIMAXUSDTlong	+0.0850%	4h	38.419	long leg	$6.5M	$31.2M	25x
Extended MINIMAX-USD	+0.0856%	1h	38.425	+0.016%	$3K	—	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0876%	4h	38.463	+0.114%	$717	$126K	10x	as long as short
Bitget MINIMAXUSDT	+0.0929%	8h	38.419	+0.001%	$1.3M	$2.6M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1270%	8h	38.510	+0.238%	$2.6M	$8.6M	20x	as long as short
edgeX MINIMAXUSDC	+0.1389%	4h	38.661	+0.630%	$29K	$183K	10x	as long as short