Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0449%/8h= +49.2% APRpaid last 24h −0.098%

Price spread now: Binance against Ondo Perps+0.138%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on Binance

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 for this trade now. Funding pays +$13 a day on $10k at the current rate, and Binance is 0.138% dearer against Ondo Perps than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MINIMAX-USD.P	36.210	0.0141	pay 0.0018% / 1h	25m 16s	$22K	$56K	5x
Short	Binance MINIMAXUSDT	36.260	0.0590	get 0.0295% / 4h	3h 25m	$6.3M	$29.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Ondo Perps. 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 Ondo PerpsbpFee BinancebpOrdersPrice spread, now +0.138%Rate

Funding earned: $94.27
Price spread: +0.138% → 0.000%: $13.81
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $93.08
Costs to cover: 0.150%
Break-even: 0.1 days

Slippage unknown: Ondo Perps: no order-book sample; Binance: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	2.76 bp	12.8 bp −$13	34.2 bp −$342	215.3 bp −$21.5K	doesn't fit

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 MINIMAXUSDT	0.0000%	8h	36.300	+0.249%	$924K	$889K	25x	as long as short
Gate MINIMAX_USDT	0.0000%	8h	36.300	+0.249%	$1.3M	$2.9M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	36.231	+0.058%	$623	$118K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	36.290	+0.221%	$15	$1.2M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.235	+0.069%	$44K	$253K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	36.237	+0.075%	$40K	$23K	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0050%	1h	36.229	+0.052%	$4.8M	$3.3M	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.260	+0.138%	$91K	$3K	10x	as long as short
Aevo MINIMAX-PERP	+0.0104%	1h	36.254	+0.123%	—	—	10x	as long as short
Ondo Perps MINIMAX-USD.Plong	+0.0141%	1h	36.210	long leg	$22K	$56K	5x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX MINIMAXUSDC	+0.0275%	4h	36.232	+0.062%	$27K	$182K	10x	as long as short
Aster MINIMAXUSDT	+0.0413%	8h	36.304	+0.260%	$32K	$6K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0502%	4h	36.240	+0.083%	$95K	$105K	20x	as long as short
Bitget MINIMAXUSDT	+0.0552%	8h	36.275	+0.180%	$1.2M	$2.7M	20x	as long as short
Binance MINIMAXUSDTshort	+0.0590%	4h	36.260	+0.138%	$6.3M	$29.6M	25x
Extended MINIMAX-USD	+0.0592%	1h	36.250	+0.109%	$3K	—	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1226%	8h	36.280	+0.193%	$2.8M	$7.8M	20x	as long as short