Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.112%

Price spread now: KuCoin against tradeXYZ+0.021%7-day average +0.006% · you sell dearer than you buy

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

Long on tradeXYZ Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.021%, 7d avg +0.006%

Together, before fees−0.121%+ Points / potential airdroptradeXYZ: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$14 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 -0.122% in total (about -6.4% 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	tradeXYZ xyz:MINIMAX	38.352	0.0863	pay 0.0108% / 1h	58m 56s	$4.5M	$2.9M	10x
Short	KuCoin MINIMAXUSDTM	38.360	0.0390	get 0.0195% / 4h	58m 56s	$97K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$99.3
Price spread: +0.021% → +0.006%: $1.47
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$127.84
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 9 min ago; KuCoin: 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 tradeXYZ live order book, 9 min ago	2.84 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin no order-book sample	—	—	—	—	—

KuCoin: 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	38.390	+0.099%	$1.4M	$3.7M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.400	+0.125%	$15	$2.5M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.441	+0.232%	$43K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.328	−0.063%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.276	−0.198%	$96K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.P	+0.0050%	1h	38.280	−0.188%	$29K	$38K	5x	as long as short
Aevo MINIMAX-PERP	+0.0224%	1h	38.291	−0.158%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0329%	8h	38.306	−0.119%	$34K	$150K	20x	as long as short
Bybit MINIMAXUSDT	+0.0366%	8h	38.400	+0.125%	$945K	$1.1M	25x	as long as short
KuCoin MINIMAXUSDTMshort	+0.0390%	4h	38.360	+0.021%	$97K	$36K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MINIMAXUSDT	+0.0845%	4h	38.364	+0.032%	$6.5M	$31.2M	25x	as long as short
Extended MINIMAX-USD	+0.0848%	1h	38.357	+0.014%	$3K	—	10x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0860%	4h	38.440	+0.230%	$712	$125K	10x	as long as short
tradeXYZ xyz:MINIMAXlong	+0.0863%	1h	38.352	long leg	$4.5M	$2.9M	10x
Bitget MINIMAXUSDT	+0.0925%	8h	38.370	+0.047%	$1.3M	$2.6M	20x	as long as short
edgeX MINIMAXUSDC	+0.1033%	4h	38.413	+0.159%	$29K	$184K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1278%	8h	38.440	+0.229%	$2.6M	$8.6M	20x	as long as short