Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0568%/8h= +62.2% APRpaid last 24h +0.170%

Price spread now: Binance against SoDEX−0.022%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.022% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MINIMAX-USD	37.762	0.0050	pay 0.0006% / 1h	39m 46s	$95K	$3K	10x
Short	Binance MINIMAXUSDT	37.754	0.0618	get 0.0309% / 4h	3h 39m	$6.3M	$30.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now −0.022%Rate

Funding earned: $119.21
Price spread: −0.022% → 0.000%: −$2.18
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: $99.04
Costs to cover: 0.180%
Break-even: 1.2 days

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 2 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.32 bp	16.0 bp −$16	44.1 bp −$441	170.8 bp −$17.1K	doesn't fit

SoDEX: 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	37.810	+0.127%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.880	+0.312%	$452	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.770	+0.021%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.765	+0.008%	$42K	$219K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	37.767	+0.013%	$42K	$25K	10x	as long as short
SoDEX MINIMAX-USDlong	+0.0050%	1h	37.762	long leg	$95K	$3K	10x
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	37.640	−0.323%	$26K	$41K	5x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	37.795	+0.088%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0156%	8h	37.800	+0.101%	$928K	$1.1M	25x	as long as short
Aster MINIMAXUSDT	+0.0245%	8h	37.811	+0.131%	$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
tradeXYZ xyz:MINIMAX	+0.0261%	1h	37.774	+0.032%	$4.4M	$2.9M	10x	as long as short
edgeX MINIMAXUSDC	+0.0310%	4h	37.822	+0.160%	$28K	$182K	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0390%	4h	37.790	+0.074%	$100K	$39K	20x	as long as short
Binance MINIMAXUSDTshort	+0.0618%	4h	37.754	−0.022%	$6.3M	$30.9M	25x
Extended MINIMAX-USD	+0.0640%	1h	37.749	−0.033%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0678%	8h	37.753	−0.024%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1251%	8h	37.780	+0.048%	$2.6M	$8.3M	20x	as long as short