xyz:MINIMAXequity & other · growth mode on · 10× max
Over 105 days of 20-level order-book snapshots, xyz:MINIMAX quoted a median spread of 6.35 bps in US regular hours with $9k resting within 25 bps of mid. A $25k market order paid about 56.15 bps in regular hours and 41.66 bps on weekends, when depth within 25 bps fell to $9k. Taker fee is 0.90 bps with growth mode on; funding averaged +13.40% annualised over the last 30 days.
by sessionNew York time · medians over 105 days
| session | snaps | spread | p90 | top | depth ±10 | depth ±25 | depth ±50 | $5k | $25k | $100k | $100k fills | $250k fills |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US regular 9:30–16:00 | 4,743 | 6.35 | 32.85 | $9k | 56.15 | 19.58 | 0% | 0% | ||||
| US extended 4–9:30, 16–20 | 6,921 | 6.46 | 34.89 | $9k | 53.85 | 28.63 | 0% | 0% | ||||
| Overnight 20–4 | 4,777 | 9.19 | 45.44 | $26k | 26.02 | 46.78 | 14% | 2% | ||||
| Weekend / holiday | 9,148 | 8.31 | 38.36 | $9k | 41.66 | 52.75 | 2% | 0% |
bps unless stated · RTH 9:30–16:00 · extended 4:00–9:30 and 16:00–20:00 · overnight 20:00–4:00 on weekdays · weekend runs Friday 20:00 to Monday 4:00 and includes NYSE holidays · slip = mean of the buy and sell side of a market order walking the visible 20 levels · fills = share of snapshots the size fits inside those levels · "—" = not fillable in the median snapshot
slippage curve
hour of week
weekly · spread
weekly · depth ±25 bps
per round trip = 2 × median slippage + 2 × taker fee · funding uses the 30-day mean hourly rate, annualised, charged for a position held all day · slippage between tested sizes is interpolated on a log scale · ignores maker rebates, impact that persists after your fill, and fee tiers
25,589 snapshots · 2026-06-18 01:09 → 2026-09-30 18:23 UTC (104.7 days) · size decimals 2 · raw: /data/xyz/MINIMAX.json · method and caveats: methodology