Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0290%/8h= −31.7% APRpaid last 24h −0.230%

Price spread now: Gate against tradeXYZ+0.095%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1441.435% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 7 days+0.011%+$1 · spread now +0.095%, 7d avg +0.078%

Together, before fees−0.165%+ Points / potential airdroptradeXYZ: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.078%, so right now this pair is about funding alone: −$9 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 -0.175% in total (about -9.1% 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	39.113	0.0290	pay 0.0036% / 1h	21m 36s	$4.5M	$2.9M	10x
Short	Gate MINIMAX_USDT	39.150	0	get 0.0000% / 8h	5h 21m	$1.4M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.095%Rate

Funding earned: −$60.88
Price spread: +0.095% → +0.078%: $1.62
Slippage, 4 orders: −$110.52
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$202.78
Costs to cover: 1.435%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	3.09 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	10.18 bp	59.6 bp −$60	278.3 bp −$2,783	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
edgeX MINIMAXUSDC	−0.0005%	4h	38.881	−0.594%	$29K	$183K	10x	as long as short
Gate MINIMAX_USDTshort	0.0000%	8h	39.150	+0.095%	$1.4M	$4.0M	50x
SunX MINIMAX-USDT	0.0000%	4h	39.170	+0.146%	$16	$2.6M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	39.145	+0.082%	$44K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	39.143	+0.077%	$44K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	39.132	+0.049%	$98K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.820	−0.749%	$29K	$39K	5x	as long as short
tradeXYZ xyz:MINIMAXlong	+0.0290%	1h	39.113	long leg	$4.5M	$2.9M	10x
Aevo MINIMAX-PERP	+0.0296%	1h	39.130	+0.042%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0362%	8h	39.198	+0.218%	$35K	$150K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0412%	4h	39.100	−0.033%	$99K	$36K	20x	as long as short
Bybit MINIMAXUSDT	+0.0556%	8h	39.100	−0.033%	$956K	$1.1M	25x	as long as short
Binance MINIMAXUSDT	+0.0967%	4h	39.094	−0.049%	$6.5M	$31.0M	25x	as long as short
Extended MINIMAX-USD	+0.0968%	1h	39.110	−0.009%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.1041%	8h	39.088	−0.064%	$1.3M	$2.5M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1138%	4h	39.170	+0.146%	$346	$123K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1248%	8h	39.100	−0.033%	$2.4M	$8.5M	20x	as long as short