Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0610%/8h= −66.8% APRpaid last 24h −0.108%

Price spread now: Lighter against Binance+0.011%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$18 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 -0.143% in total (about -7.4% 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	Binance MINIMAXUSDT	37.780	0.0642	pay 0.0321% / 4h	3h 40m	$6.3M	$30.9M	25x
Short	Lighter MINIMAX	37.784	0.0032	get 0.0004% / 1h	40m 44s	$42K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$128.03
Price spread: +0.011% → 0.000%: $1.06
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$136.97
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 1 min ago; Lighter: no order-book sample. 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 Binance live order book, 1 min ago	1.32 bp	10.9 bp −$11	40.5 bp −$405	197.2 bp −$19.7K	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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	37.840	+0.159%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.880	+0.265%	$452	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.800	+0.053%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.765	−0.040%	$42K	$219K	20x	as long as short
Lighter MINIMAXshort	+0.0032%	1h	37.784	+0.011%	$42K	$25K	10x
SoDEX MINIMAX-USD	+0.0050%	1h	37.779	−0.003%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.640	−0.371%	$26K	$41K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.797	+0.044%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0161%	8h	37.810	+0.079%	$928K	$1.1M	25x	as long as short
Aster MINIMAXUSDT	+0.0250%	8h	37.823	+0.113%	$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	+0.0310%	4h	37.822	+0.112%	$28K	$182K	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0316%	1h	37.785	+0.013%	$4.4M	$2.9M	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0390%	4h	37.800	+0.053%	$100K	$39K	20x	as long as short
Binance MINIMAXUSDTlong	+0.0642%	4h	37.780	long leg	$6.3M	$30.9M	25x
Extended MINIMAX-USD	+0.0656%	1h	37.769	−0.028%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0678%	8h	37.775	−0.013%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1259%	8h	37.790	+0.026%	$2.6M	$8.3M	20x	as long as short