Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0344%/8h= +37.7% APRpaid last 24h +0.220%

Price spread now: Ondo Perps against Bybit−0.027%7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Funding pays, the price is against you. Ondo Perps is 0.027% cheaper against Bybit than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MINIMAXUSDT	36.380	0	get 0.0000% / 8h	7h 42m	$925K	$895K	25x
Short	Ondo Perps MINIMAX-USD.P	36.370	0.0344	get 0.0043% / 1h	42m 31s	$22K	$56K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. 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 BybitbpFee Ondo PerpsbpOrdersPrice spread, now −0.027%Rate

Funding earned: $72.24
Price spread: −0.027% → 0.000%: −$2.75
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $53.49
Costs to cover: 0.160%
Break-even: 1.8 days

Slippage unknown: Bybit: live order book, 48 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 Bybit live order book, 48 min ago	5.47 bp	64.3 bp −$64	495.3 bp −$4,953	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
Bybit MINIMAXUSDTlong	0.0000%	8h	36.380	long leg	$925K	$895K	25x
Gate MINIMAX_USDT	0.0000%	8h	36.420	+0.110%	$1.3M	$2.9M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	36.400	+0.055%	$15	$1.2M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.383	+0.008%	$49K	$237K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	36.353	−0.074%	$41K	$23K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.347	−0.091%	$91K	$3K	10x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.365	−0.040%	—	—	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0344%	1h	36.370	−0.027%	$22K	$56K	5x
tradeXYZ xyz:MINIMAX	+0.0473%	1h	36.328	−0.143%	$4.8M	$3.3M	10x	as long as short
Aster MINIMAXUSDT	+0.0480%	8h	36.370	−0.027%	$32K	$6K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MINIMAXUSDC	+0.0621%	4h	36.355	−0.069%	$27K	$184K	10x	as long as short
Bitget MINIMAXUSDT	+0.0658%	8h	36.371	−0.025%	$1.2M	$2.7M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.0690%	4h	36.349	−0.085%	$701	$119K	10x	as long as short
KuCoin MINIMAXUSDTM	+0.0720%	4h	36.370	−0.027%	$96K	$87K	20x	as long as short
Binance MINIMAXUSDT	+0.0789%	4h	36.360	−0.055%	$6.3M	$29.7M	25x	as long as short
Extended MINIMAX-USD	+0.0792%	1h	36.350	−0.082%	$3K	—	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1339%	8h	36.410	+0.082%	$2.8M	$7.8M	20x	as long as short