Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h −0.315%

Price spread now: HTX against Ondo Perps−0.487%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on HTX

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 −$3 a day on $10k at the current rate, and HTX is 0.487% cheaper against Ondo Perps than usual: you would sell low and buy high (−$49 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	Ondo Perps MINIMAX-USD.P	37.130	0.0090	pay 0.0011% / 1h	45m 20s	$24K	$47K	5x
Short	HTX MINIMAX-USDT	36.949	0	get 0.0000% / 4h	2h 45m	$41K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.487%Rate

Funding earned: −$18.82
Price spread: −0.487% → 0.000%: −$48.75
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$84.56
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 38 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 HTX live order book, 38 min ago	5.30 bp	34.9 bp −$35	79.5 bp −$795	doesn't fit	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
Gate MINIMAX_USDT	0.0000%	8h	37.030	−0.269%	$1.2M	$3.4M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	36.904	−0.607%	$302	$127K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	36.970	−0.431%	$15	$2.2M	10x	as long as short
HTX MINIMAX-USDTshort	0.0000%	4h	36.949	−0.487%	$41K	$225K	20x
SoDEX MINIMAX-USD	+0.0050%	1h	36.934	−0.528%	$93K	$3K	10x	as long as short
Extended MINIMAX-USD	+0.0088%	1h	37.050	−0.214%	$3K	—	10x	as long as short
Ondo Perps MINIMAX-USD.Plong	+0.0090%	1h	37.130	long leg	$24K	$47K	5x
Binance MINIMAXUSDT	+0.0091%	4h	37.071	−0.158%	$6.2M	$31.9M	25x	as long as short
Bybit MINIMAXUSDT	+0.0096%	8h	37.080	−0.135%	$909K	$1.1M	25x	as long as short
KuCoin MINIMAXUSDTM	+0.0100%	4h	36.960	−0.458%	$97K	$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	36.892	−0.641%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0188%	8h	36.980	−0.404%	$33K	$45K	20x	as long as short
edgeX MINIMAXUSDC	+0.0276%	4h	36.924	−0.556%	$28K	$184K	10x	as long as short
Lighter MINIMAX	+0.0296%	1h	37.008	−0.329%	$41K	$25K	10x	as long as short
Bitget MINIMAXUSDT	+0.0399%	8h	36.990	−0.377%	$1.2M	$2.8M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1024%	8h	37.130	0.000%	$2.7M	$8.2M	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.1032%	1h	36.990	−0.377%	$4.3M	$3.0M	10x	as long as short