Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1184%/8h= −129.7% APRpaid last 24h +0.155%

Price spread now: Ondo Perps against OKX−0.239%7-day average — · you buy dearer than you sell

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

Long on OKX 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

Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Ondo Perps is 0.239% cheaper against OKX than usual: you would sell low and buy high (−$24 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	OKX MINIMAX-USDT-SWAP	37.730	0.1235	pay 0.1235% / 8h	3h 38m	$2.6M	$8.3M	20x
Short	Ondo Perps MINIMAX-USD.P	37.640	0.0050	get 0.0006% / 1h	38m 09s	$26K	$41K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against OKX. 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 OKXbpFee Ondo PerpsbpOrdersPrice spread, now −0.239%Rate

Funding earned: −$248.73
Price spread: −0.239% → 0.000%: −$23.85
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$287.58
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	3.96 bp	20.8 bp −$21	134.0 bp −$1,340	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	37.790	+0.159%	$1.4M	$3.8M	50x	as long as short
GRVT MINIMAX_USDT_Perp	0.0000%	4h	37.790	+0.159%	$451	$126K	10x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	37.750	+0.053%	$15	$2.3M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	37.757	+0.072%	$42K	$219K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	37.750	+0.053%	$42K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	37.738	+0.021%	$95K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0050%	1h	37.640	−0.239%	$26K	$41K	5x
Aevo MINIMAX-PERP	+0.0104%	1h	37.765	+0.092%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0151%	8h	37.760	+0.080%	$927K	$1.1M	25x	as long as short
tradeXYZ xyz:MINIMAX	+0.0163%	1h	37.744	+0.037%	$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
edgeX MINIMAXUSDC	+0.0225%	4h	37.762	+0.086%	$28K	$182K	10x	as long as short
Aster MINIMAXUSDT	+0.0241%	8h	37.789	+0.156%	$33K	$150K	20x	as long as short
KuCoin MINIMAXUSDTM	+0.0360%	4h	37.760	+0.080%	$100K	$39K	20x	as long as short
Binance MINIMAXUSDT	+0.0598%	4h	37.734	+0.011%	$6.3M	$30.9M	25x	as long as short
Extended MINIMAX-USD	+0.0600%	1h	37.730	−0.001%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.0660%	8h	37.742	+0.032%	$1.3M	$2.7M	20x	as long as short
OKX MINIMAX-USDT-SWAPlong	+0.1235%	8h	37.730	long leg	$2.6M	$8.3M	20x