Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1109%/8h= −121.4% APRpaid last 24h +0.183%

Price spread now: Ondo Perps against Binance+0.503%7-day average — · you sell dearer than you buy

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

Long on Binance 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

The price spread pays, funding is against you. Ondo Perps is 0.503% dearer against Binance than usual: you sell high and buy low (spread +0.503% now, against zero (this spread has no 7-day history yet)): +$50 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MINIMAXUSDT	38.278	0.1159	pay 0.0580% / 4h	1h 48m	$6.3M	$31.1M	25x
Short	Ondo Perps MINIMAX-USD.P	38.470	0.0050	get 0.0006% / 1h	48m 20s	$30K	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Binance. 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 BinancebpFee Ondo PerpsbpOrdersPrice spread, now +0.503%Rate

Funding earned: −$232.9
Price spread: +0.503% → 0.000%: $50.26
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$197.64
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	3.88 bp	13.5 bp −$13	31.9 bp −$319	169.7 bp −$17.0K	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	38.320	+0.111%	$1.4M	$3.9M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	38.340	+0.163%	$15	$2.8M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	38.333	+0.145%	$45K	$214K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	38.298	+0.053%	$43K	$25K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	38.309	+0.082%	$96K	$3K	10x	as long as short
Ondo Perps MINIMAX-USD.Pshort	+0.0050%	1h	38.470	+0.503%	$30K	$37K	5x
edgeX MINIMAXUSDC	+0.0287%	4h	38.532	+0.665%	$29K	$187K	10x	as long as short
Aster MINIMAXUSDT	+0.0370%	8h	38.385	+0.282%	$34K	$150K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0371%	1h	38.302	+0.064%	$4.4M	$2.9M	10x	as long as short
Aevo MINIMAX-PERP	+0.0384%	1h	38.311	+0.088%	—	—	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MINIMAXUSDTM	+0.0502%	4h	38.300	+0.058%	$97K	$36K	20x	as long as short
Bybit MINIMAXUSDT	+0.0922%	8h	38.310	+0.085%	$913K	$1.2M	25x	as long as short
Binance MINIMAXUSDTlong	+0.1159%	4h	38.278	long leg	$6.3M	$31.1M	25x
Extended MINIMAX-USD	+0.1160%	1h	38.280	+0.005%	$3K	—	10x	as long as short
Bitget MINIMAXUSDT	+0.1198%	8h	38.321	+0.113%	$1.3M	$2.5M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1323%	8h	38.320	+0.111%	$2.2M	$8.2M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1742%	4h	38.330	+0.137%	$306	$125K	10x	as long as short