Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0368%/8h= −40.3% APRpaid last 24h +0.233%

Price spread now: Ondo Perps against KuCoin−0.614%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Ondo Perps

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 −$11 a day on $10k at the current rate, and Ondo Perps is 0.614% cheaper against KuCoin than usual: you would sell low and buy high (−$61 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	KuCoin MINIMAXUSDTM	39.060	0.0418	pay 0.0209% / 4h	1h 21m	$99K	$36K	20x
Short	Ondo Perps MINIMAX-USD.P	38.820	0.0050	get 0.0006% / 1h	21m 48s	$29K	$39K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against KuCoin. 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 KuCoinbpFee Ondo PerpsbpOrdersPrice spread, now −0.614%Rate

Funding earned: −$77.2
Price spread: −0.614% → 0.000%: −$61.44
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$155.64
Costs to cover: 0.170%
Break-even: never at this rate

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

KuCoin and 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
edgeX MINIMAXUSDC	−0.0005%	4h	38.881	−0.459%	$29K	$183K	10x	as long as short
Gate MINIMAX_USDT	0.0000%	8h	39.150	+0.230%	$1.4M	$4.0M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	39.170	+0.282%	$16	$2.6M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	39.145	+0.218%	$44K	$218K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	39.121	+0.156%	$44K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	39.132	+0.184%	$98K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0050%	1h	38.820	−0.614%	$29K	$39K	5x
tradeXYZ xyz:MINIMAX	+0.0285%	1h	39.077	+0.044%	$4.5M	$2.9M	10x	as long as short
Aevo MINIMAX-PERP	+0.0296%	1h	39.130	+0.178%	—	—	10x	as long as short
Aster MINIMAXUSDT	+0.0362%	8h	39.137	+0.197%	$35K	$150K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTMlong	+0.0418%	4h	39.060	long leg	$99K	$36K	20x
Bybit MINIMAXUSDT	+0.0569%	8h	39.150	+0.230%	$958K	$1.1M	25x	as long as short
Extended MINIMAX-USD	+0.0968%	1h	39.085	+0.063%	$3K	—	10x	as long as short
Binance MINIMAXUSDT	+0.0969%	4h	39.130	+0.180%	$6.5M	$31.0M	25x	as long as short
Bitget MINIMAXUSDT	+0.1045%	8h	39.169	+0.279%	$1.3M	$2.6M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1110%	4h	38.767	−0.750%	$482	$124K	10x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1248%	8h	39.180	+0.307%	$2.4M	$8.5M	20x	as long as short