Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0267%/8h= −29.3% APRpaid last 24h +0.178%

Price spread now: Ondo Perps against Bitget−0.032%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Ondo Perps is 0.032% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MINIMAXUSDT	37.232	0.0377	pay 0.0377% / 8h	2h 50m	$1.2M	$2.8M	20x
Short	Ondo Perps MINIMAX-USD.P	37.220	0.0110	get 0.0014% / 1h	50m 25s	$24K	$47K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. 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 BitgetbpFee Ondo PerpsbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$56.15
Price spread: −0.032% → 0.000%: −$3.22
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$76.38
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Ondo Perps: 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 Bitget live order book, 2 min ago	6.62 bp	40.2 bp −$40	81.9 bp −$819	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
edgeX MINIMAXUSDC	−0.0548%	4h	37.509	+0.744%	$28K	$183K	10x	as long as short
Gate MINIMAX_USDT	0.0000%	8h	37.240	+0.021%	$1.3M	$3.3M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.500	+0.720%	$307	$127K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.100	−0.355%	$15	$2.2M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.193	−0.105%	$42K	$225K	20x	as long as short
Extended MINIMAX-USD	+0.0016%	1h	37.250	+0.049%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0034%	4h	37.210	−0.059%	$6.2M	$31.8M	25x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.156	−0.204%	$93K	$3K	10x	as long as short
Bybit MINIMAXUSDT	+0.0052%	8h	37.220	−0.032%	$914K	$1.1M	25x	as long as short
KuCoin MINIMAXUSDTM	+0.0100%	4h	37.120	−0.301%	$98K	$37K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo MINIMAX-PERP	+0.0104%	1h	37.079	−0.410%	—	—	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0110%	1h	37.220	−0.032%	$24K	$47K	5x
Aster MINIMAXUSDT	+0.0144%	8h	37.086	−0.393%	$33K	$45K	20x	as long as short
Lighter MINIMAX	+0.0216%	1h	37.215	−0.046%	$42K	$25K	10x	as long as short
Bitget MINIMAXUSDTlong	+0.0377%	8h	37.232	long leg	$1.2M	$2.8M	20x
tradeXYZ xyz:MINIMAX	+0.0964%	1h	37.158	−0.199%	$4.3M	$2.9M	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.0975%	8h	37.260	+0.075%	$2.7M	$8.3M	20x	as long as short