Funding arb · Price arb /

MINIMAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0368%/8h= +40.3% APRpaid last 24h −0.188%

Price spread now: Binance against Ondo Perps−0.112%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 Binance

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

Funding pays, the price is against you. Binance is 0.112% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 24 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MINIMAX-USD.P	39.680	0.1291	pay 0.0161% / 1h	13m 56s	$30K	$48K	5x
Short	Binance MINIMAXUSDT	39.636	0.1659	get 0.0829% / 4h	13m 56s	$6.5M	$35.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.112%Rate

Funding earned: $77.19
Price spread: −0.112% → 0.000%: −$11.18
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $51.01
Costs to cover: 0.150%
Break-even: 2.4 days

Slippage unknown: Ondo Perps: no order-book sample; Binance: live order book, 13 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 Binance live order book, 13 min ago	1.25 bp	10.9 bp −$11	24.4 bp −$244	179.8 bp −$18.0K	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	39.660	−0.050%	$1.2M	$6.2M	50x	as long as short
SunX MINIMAX-USDT	0.0000%	4h	39.660	−0.050%	$16	$3.9M	10x	as long as short
HTX MINIMAX-USDT	0.0000%	4h	39.687	+0.018%	$38K	$71K	20x	as long as short
Lighter MINIMAX	+0.0032%	1h	39.716	+0.091%	$46K	$27K	10x	as long as short
SoDEX MINIMAX-USD	+0.0050%	1h	39.649	−0.078%	$100K	$4K	10x	as long as short
Aster MINIMAXUSDT	+0.0283%	8h	39.715	+0.089%	$34K	$152K	20x	as long as short
tradeXYZ xyz:MINIMAX	+0.0751%	1h	39.698	+0.045%	$4.6M	$2.9M	10x	as long as short
Aevo MINIMAX-PERP	+0.0760%	1h	39.712	+0.080%	—	—	10x	as long as short
Bybit MINIMAXUSDT	+0.0770%	8h	39.650	−0.076%	$938K	$1.4M	25x	as long as short
KuCoin MINIMAXUSDTM	+0.1102%	4h	39.690	+0.025%	$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
edgeX MINIMAXUSDC	+0.1123%	4h	39.740	+0.152%	$30K	$188K	10x	as long as short
Ondo Perps MINIMAX-USD.Plong	+0.1291%	1h	39.680	long leg	$30K	$48K	5x
Bitget MINIMAXUSDT	+0.1464%	8h	39.620	−0.151%	$1.3M	$2.9M	20x	as long as short
OKX MINIMAX-USDT-SWAP	+0.1470%	8h	39.630	−0.126%	$1.7M	$9.6M	20x	as long as short
GRVT MINIMAX_USDT_Perp	+0.1548%	4h	39.720	+0.101%	$278	$139K	10x	as long as short
Extended MINIMAX-USD	+0.1656%	1h	39.627	−0.135%	$3K	—	10x	as long as short
Binance MINIMAXUSDTshort	+0.1659%	4h	39.636	−0.112%	$6.5M	$35.6M	25x