Funding arb · Price arb /

MINIMAX

RWAall MINIMAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0315%/8h= +34.5% APRpaid last 24h +0.221%

Price spread now: tradeXYZ against SunX−0.205%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1781.779% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.491%+$49 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now −0.205%, 7d avg −0.099%

Together, before fees+0.507%+ Points / potential airdroptradeXYZ: Active · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.106% cheaper against SunX than usual: you would sell low and buy high (spread −0.205% now, against its 7-day average of −0.099%). If the spread goes back, that is −$11 on $10k: about 27 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MINIMAX-USDT	36.580	0	get 0.0000% / 4h	30m 33s	$15	$1.3M	10x
Short	tradeXYZ xyz:MINIMAX	36.505	0.0315	get 0.0039% / 1h	30m 33s	$4.8M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.205%Rate

Funding earned: $66.1
Price spread: −0.205% → −0.099%: −$10.62
Slippage, 4 orders: −$151.91
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$122.43
Costs to cover: 1.779%
Break-even: 20.0 days

Slippage from SunX: live order book, 4 min ago; tradeXYZ: live order book, 8 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, 4 min ago	31.41 bp	56.9 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	3.29 bp	13.1 bp −$13	doesn't fit	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
SunX MINIMAX-USDTlong	0.0000%	4h	36.580	long leg	$15	$1.3M	10x
HTX MINIMAX-USDT	0.0000%	4h	36.552	−0.077%	$49K	$232K	20x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.540	−0.109%	$92K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	36.550	−0.082%	$23K	$52K	5x	as long as short
Lighter MINIMAX	+0.0056%	1h	36.539	−0.112%	$41K	$23K	10x	as long as short
edgeX MINIMAXUSDC	+0.0070%	4h	36.510	−0.191%	$27K	$184K	10x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.555	−0.069%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAXshort	+0.0315%	1h	36.505	−0.205%	$4.8M	$3.3M	10x
Gate MINIMAX_USDT	+0.0370%	8h	36.590	+0.027%	$1.3M	$2.9M	50x	as long as short
Aster MINIMAXUSDT	+0.0590%	8h	36.490	−0.245%	$32K	$6K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MINIMAXUSDT	+0.0676%	8h	36.550	−0.082%	$920K	$962K	25x	as long as short
Bitget MINIMAXUSDT	+0.0705%	8h	36.544	−0.098%	$1.2M	$2.7M	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0752%	4h	36.540	−0.109%	$96K	$36K	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0770%	4h	36.487	−0.253%	$1K	$123K	10x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	36.535	−0.123%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0856%	4h	36.540	−0.109%	$6.4M	$30.2M	25x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1409%	8h	36.590	+0.027%	$2.8M	$7.9M	20x	as long as short