Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1819%/8h= −199.1% APRpaid last 24h +0.203%

Price spread now: Ondo Perps against edgeX−0.164%54s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Ondo Perps is 0.164% cheaper against edgeX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MINIMAXUSDC	38.213	0.1869	pay 0.0935% / 4h	1h 30m	$29K	$184K	10x
Short	Ondo Perps MINIMAX-USD.P	38.150	0.0050	get 0.0006% / 1h	30m 18s	$29K	$38K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against edgeX. 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 edgeXbpFee Ondo PerpsbpOrdersPrice spread, now −0.164%Rate

Funding earned: −$381.93
Price spread: −0.164% → 0.000%: −$16.43
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$412.36
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 31 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 edgeX live order book, 31 min ago	11.62 bp	24.1 bp −$24	190.3 bp −$1,903	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
Gate MINIMAX_USDT	0.0000%	8h	38.500	+0.752%	$1.4M	$3.9M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.510	+0.778%	$15	$2.6M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.494	+0.736%	$44K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.468	+0.668%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.463	+0.655%	$97K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0050%	1h	38.150	−0.164%	$29K	$38K	5x
tradeXYZ xyz:MINIMAX	+0.0064%	1h	38.486	+0.715%	$4.4M	$2.9M	10x	as long as short
Aevo MINIMAX-PERP	+0.0312%	1h	38.470	+0.674%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0313%	8h	38.552	+0.887%	$34K	$150K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0386%	4h	38.470	+0.673%	$97K	$36K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MINIMAXUSDT	+0.0600%	8h	38.500	+0.752%	$917K	$1.1M	25x	as long as short
Extended MINIMAX-USD	+0.0928%	1h	38.479	+0.697%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0931%	4h	38.500	+0.752%	$6.4M	$30.5M	25x	as long as short
Bitget MINIMAXUSDT	+0.1061%	8h	38.500	+0.752%	$1.3M	$2.5M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1164%	4h	38.189	−0.061%	$466	$124K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1217%	8h	38.530	+0.830%	$2.2M	$8.1M	20x	as long as short
edgeX MINIMAXUSDClong	+0.1869%	4h	38.213	long leg	$29K	$184K	10x