Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0542%/8h= +59.4% APRpaid last 24h −0.037%

Price spread now: Binance against tradeXYZ+0.156%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.217%−$22 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.156%, 7d avg +0.082%

Together, before fees−0.252%+ Points / potential airdroptradeXYZ: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Binance is 0.074% dearer against tradeXYZ than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.082%. Mind the row above: over the last 7 days funding on this pair cost −0.217%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.217% in total (about -11.3% 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	tradeXYZ xyz:MINIMAX	36.493	0.0315	pay 0.0039% / 1h	31m 05s	$4.8M	$3.3M	10x
Short	Binance MINIMAXUSDT	36.550	0.0858	get 0.0429% / 4h	31m 05s	$6.4M	$30.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.156%Rate

Funding earned: $113.86
Price spread: +0.156% → +0.082%: $7.44
Slippage, 4 orders: −$24.89
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $68.41
Costs to cover: 0.529%
Break-even: 2.8 days

Slippage from tradeXYZ: live order book, 7 min ago; Binance: live order book, 10 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, 7 min ago	3.29 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	1.38 bp	12.3 bp −$12	32.1 bp −$321	148.1 bp −$14.8K	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-USDT	0.0000%	4h	36.580	+0.238%	$15	$1.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.552	+0.162%	$49K	$232K	20x	as long as short
Lighter MINIMAX	+0.0048%	1h	36.552	+0.162%	$41K	$23K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.540	+0.129%	$92K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	36.550	+0.156%	$23K	$52K	5x	as long as short
edgeX MINIMAXUSDC	+0.0070%	4h	36.510	+0.047%	$27K	$184K	10x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.555	+0.169%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAXlong	+0.0315%	1h	36.493	long leg	$4.8M	$3.3M	10x
Gate MINIMAX_USDT	+0.0367%	8h	36.590	+0.266%	$1.3M	$2.9M	50x	as long as short
Bybit MINIMAXUSDT	+0.0393%	8h	36.550	+0.156%	$920K	$962K	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MINIMAXUSDT	+0.0591%	8h	36.493	+0.001%	$32K	$6K	20x	as long as short
Bitget MINIMAXUSDT	+0.0706%	8h	36.544	+0.140%	$1.2M	$2.7M	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0750%	4h	36.550	+0.156%	$96K	$35K	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0770%	4h	36.487	−0.016%	$1K	$123K	10x	as long as short
Extended MINIMAX-USD	+0.0856%	1h	36.539	+0.125%	$3K	—	10x	as long as short
Binance MINIMAXUSDTshort	+0.0858%	4h	36.550	+0.156%	$6.4M	$30.2M	25x
OKX MINIMAX-USDT-SWAP	+0.1409%	8h	36.590	+0.266%	$2.8M	$8.0M	20x	as long as short