Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0730%/8h= +79.9% APRpaid last 24h −0.207%

Price spread now: KuCoin against Ondo Perps−0.137%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 KuCoin

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. KuCoin is 0.137% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 15 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MINIMAX-USD.P	36.490	0.0050	pay 0.0006% / 1h	10m 06s	$23K	$53K	5x
Short	KuCoin MINIMAXUSDTM	36.440	0.0780	get 0.0390% / 4h	10m 06s	$95K	$58K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.137%Rate

Funding earned: $153.22
Price spread: −0.137% → 0.000%: −$13.7
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $122.51
Costs to cover: 0.170%
Break-even: 1.4 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin no order-book sample	—	—	—	—	—

Ondo Perps and KuCoin: 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
SunX MINIMAX-USDT	0.0000%	4h	36.490	0.000%	$15	$1.2M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	36.434	−0.153%	$49K	$232K	20x	as long as short
Lighter MINIMAX	+0.0048%	1h	36.455	−0.096%	$41K	$23K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	36.419	−0.195%	$91K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Plong	+0.0050%	1h	36.490	long leg	$23K	$53K	5x
Aevo MINIMAX-PERP	+0.0104%	1h	36.451	−0.108%	—	—	10x	as long as short
tradeXYZ xyz:MINIMAX	+0.0301%	1h	36.400	−0.247%	$4.8M	$3.3M	10x	as long as short
Bybit MINIMAXUSDT	+0.0348%	8h	36.410	−0.219%	$921K	$917K	25x	as long as short
Gate MINIMAX_USDT	+0.0425%	8h	36.480	−0.027%	$1.3M	$2.9M	50x	as long as short
Aster MINIMAXUSDT	+0.0581%	8h	36.385	−0.286%	$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
GRVT MINIMAX_USDT_Perp	+0.0690%	4h	36.550	+0.164%	$323	$121K	10x	as long as short
Bitget MINIMAXUSDT	+0.0702%	8h	36.415	−0.206%	$1.2M	$2.7M	20x	as long as short
KuCoin MINIMAXUSDTMshort	+0.0780%	4h	36.440	−0.137%	$95K	$58K	20x
Binance MINIMAXUSDT	+0.0847%	4h	36.434	−0.155%	$6.4M	$29.8M	25x	as long as short
Extended MINIMAX-USD	+0.0848%	1h	36.411	−0.216%	$3K	—	10x	as long as short
edgeX MINIMAXUSDC	+0.1383%	4h	36.554	+0.176%	$27K	$184K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1413%	8h	36.440	−0.137%	$2.8M	$7.9M	20x	as long as short