Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.328%

Price spread now: Ondo Perps against SunX−0.317%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Ondo Perps

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. Ondo Perps is 0.317% cheaper against SunX than usual: you would sell low and buy high (spread −0.317% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 21 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MINIMAX-USDT	37.900	0	get 0.0000% / 4h	3h 47m	$15	$2.3M	10x
Short	Ondo Perps MINIMAX-USD.P	37.780	0.0050	get 0.0006% / 1h	47m 24s	$26K	$42K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against SunX. 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 SunXbpFee Ondo PerpsbpOrdersPrice spread, now −0.317%Rate

Funding earned: $10.58
Price spread: −0.317% → 0.000%: −$31.66
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$34.08
Costs to cover: 0.130%
Break-even: 29.5 days

Slippage unknown: SunX: live order book, 9 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 SunX live order book, 9 min ago	33.01 bp	54.3 bp −$54	doesn't fit	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	37.900	0.000%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.810	−0.237%	$457	$126K	10x	as long as short
SunX MINIMAX-USDTlong	0.0000%	4h	37.900	long leg	$15	$2.3M	10x
HTX MINIMAX-USDT	0.0000%	4h	37.802	−0.259%	$42K	$219K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	37.802	−0.259%	$42K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.810	−0.237%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0050%	1h	37.780	−0.317%	$26K	$42K	5x
Aevo MINIMAX-PERP	+0.0104%	1h	37.794	−0.281%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0162%	8h	37.880	−0.053%	$927K	$1.1M	25x	as long as short
tradeXYZ xyz:MINIMAX	+0.0238%	1h	37.809	−0.240%	$4.4M	$2.9M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MINIMAXUSDT	+0.0278%	8h	37.804	−0.254%	$34K	$150K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0406%	4h	37.830	−0.185%	$100K	$39K	20x	as long as short
Binance MINIMAXUSDT	+0.0670%	4h	37.851	−0.128%	$6.3M	$30.8M	25x	as long as short
Extended MINIMAX-USD	+0.0672%	1h	37.842	−0.154%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0696%	8h	37.855	−0.119%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1293%	8h	37.890	−0.026%	$2.6M	$8.3M	20x	as long as short
edgeX MINIMAXUSDC	+0.1484%	4h	37.816	−0.221%	$28K	$183K	10x	as long as short