Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1352%/8h= −148.0% APRpaid last 24h −0.272%

Price spread now: SunX against Ondo Perps−0.126%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 SunX

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 airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and SunX is 0.126% cheaper against Ondo Perps than usual: you would sell low and buy high (−$13 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	39.760	0.1352	pay 0.0169% / 1h	15m 47s	$30K	$48K	5x
Short	SunX MINIMAX-USDT	39.710	0	get 0.0000% / 4h	15m 47s	$16	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$283.92
Price spread: −0.126% → 0.000%: −$12.58
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$309.5
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 2 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 SunX live order book, 2 min ago	31.38 bp	82.6 bp −$83	doesn't fit	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	39.710	−0.126%	$1.2M	$6.2M	50x	as long as short
SunX MINIMAX-USDTshort	0.0000%	4h	39.710	−0.126%	$16	$3.9M	10x
HTX MINIMAX-USDT	0.0000%	4h	39.699	−0.153%	$38K	$71K	20x	as long as short
Lighter MINIMAX	+0.0048%	1h	39.766	+0.015%	$46K	$27K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	39.692	−0.171%	$100K	$4K	10x	as long as short
Aster MINIMAXUSDT	+0.0286%	8h	39.720	−0.101%	$34K	$152K	20x	as long as short
Aevo MINIMAX-PERP	+0.0768%	1h	39.716	−0.111%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0777%	8h	39.720	−0.101%	$940K	$1.4M	25x	as long as short
tradeXYZ xyz:MINIMAX	+0.0811%	1h	39.700	−0.151%	$4.6M	$2.9M	10x	as long as short
KuCoin MINIMAXUSDTM	+0.1156%	4h	39.710	−0.126%	$100K	$44K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MINIMAX-USD.Plong	+0.1352%	1h	39.760	long leg	$30K	$48K	5x
OKX MINIMAX-USDT-SWAP	+0.1485%	8h	39.660	−0.252%	$1.7M	$9.6M	20x	as long as short
Bitget MINIMAXUSDT	+0.1490%	8h	39.664	−0.241%	$1.3M	$2.9M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1560%	4h	39.840	+0.201%	$749	$138K	10x	as long as short
edgeX MINIMAXUSDC	+0.1681%	4h	39.818	+0.145%	$30K	$188K	10x	as long as short
Binance MINIMAXUSDT	+0.1694%	4h	39.677	−0.210%	$6.4M	$35.6M	25x	as long as short
Extended MINIMAX-USD	+0.1712%	1h	39.675	−0.215%	$3K	—	10x	as long as short