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Equity · Technology
MiniMax Group (MINIMAX) perpetual futures
MINIMAX perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade MINIMAXUSDT.
MiniMax Group designs and develops AI foundation models supporting text, audio, images, video, and music modalities.
$31.93+2.0%
Price chart
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Collecting venue price data...
venue perp mark · Binance (MINIMAX/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
20/20 live markets
Trading data
Perpetual market activity
Venues
20
Live markets
20/20
24h volume
$28.7MCoverage: 16/20 marketsExchange-reported volume: $63.4M
Open interest
$21.3MCoverage: 19/20 markets
Best liquidity
$845.1K
Ourbit
Tightest spread
+0.6 bps
Bitget
Highest volume
$15.5M
Binance
Settlement mix
USDT · 15/20
Perp/spot vol.
0.40x
Spot volume $71M
OI / float
+1.56%
Float $1.4B
Spot performance
1D+2.05%
5D+0.08%
1M-31.05%
6M-75.06%
YTD-27.77%
1Y-27.77%
Venue matrix
20 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Binance | Trade | MINIMAX/USDT | Trading | $31.94 | 0.0% APR 0.000% every 4h | +3.1 bps | $332.3K | $15.5M | $7.6M | USDT | - | |
 Gate.io | Trade | MINIMAX/USDT | Trading | $31.93 | 0.0% APR 0.000% every 8h | +3.1 bps | - | $3.3M | $1.1M | USDT | 50x | |
 OKX | Trade | MINIMAX/USDT | Trading | $31.93 | +18.9% APR +0.017% every 8h | +3.1 bps | $130K | $3.2M | $2M | USDT | 20x | |
 Bitget | Trade | MINIMAX/USDT | Trading | $31.92 | 0.0% APR 0.000% every 8h | +0.6 bps | - | $3M | $1.1M | USDT | 20x | |
 Hyperliquid HIP-3 | Trade | xyz:MINIMAX | Trading | $31.92 | +23.5% APR +0.00268% every 1h | +1.9 bps | $74.4K | $1.4M | $3.8M | USDC | 10x | |
 XT.com | Trade | MINIMAX/USDT | Trading | $31.91 | 0.0% APR 0.000% every 4h | +3.1 bps | $29.4K | $1.4M | $4.5M | USDT | 25x | |
 Bitunix | Trade | MINIMAX/USDT | Trading | $31.94 | +0.5% APR +0.00022% every 4h | +15.7 bps | $779.7K | $427.9K | $103.2K | USDT | 25x | |
 Bybit | Trade | MINIMAX/USDT | Trading | $31.92 | 0.0% APR 0.000% every 8h | +12.5 bps | $25.1K | $276.2K | $585K | USDT | 25x | |
 GRVT | Trade | MINIMAX/USDT | Trading | $31.93 | 0.0% APR 0.000% every 4h | +9.4 bps | $205.7K | $127K | $2.4K | USDT | - | |
 MEXC | Trade | MINIMAXSTOCK/USDT | Trading | $31.93 | 0.0% APR 0.000% every 4h | +9.4 bps | $501.3K | $102.9K | $203.1K | USDT | 20x | |
 Ondo Perps | Trade | MINIMAX/USD | Trading | $31.93 | - | +12.5 bps | $443.4K | $26.3K | $37.8K | USDC | 5x | |
 HTX | Trade | MINIMAX/USDT | Trading | $31.95 | - | +8.5 bps | $298.1K | $23.5K | - | USDT | - | |
 Aster | Trade | MINIMAXUSDT | Trading | $31.87 | 0.0% APR 0.000% every 8h | +62.8 bps | $74.7K | $23K | $31.5K | USDT | - | |
 Crypto.com Exchange | Trade | MINIMAX/USD | Trading | $31.68 | +93.8% APR +0.011% every 1h | +15.7 bps | $6.2K | $323.9 | $1K | USD | 50x | |
 Aevo | Trade | MINIMAX/USDC | Trading | $31.93 | +11.4% APR +0.00130% every 1h | +14.9 bps | $199.2K | $0 | $0 | USDC | 10x | |
 Extended | Trade | MINIMAX/USD | Trading | $31.93 | 0.0% APR 0.000% every 1h | +11.9 bps | $44.7K | $0 | $708.4 | USD | 10x | |
 Ourbit | Trade | MINIMAX/USDT | Trading | $31.93 | 0.0% APR 0.000% every 4h | +3.1 bps | $845.1K | $14.9M⚠ | $105.1K | USDT | 20x | |
 Deepcoin | Trade | MINIMAX/USDT | Trading | $31.94 | - | +3.1 bps | $277.2K | $9.4M⚠ | $13.5K | USDT | 25x | |
 LBank | Trade | MINIMAX/USDT | Trading | $31.93 | 0.0% APR 0.000% every 4h | +3.1 bps | $491K | $9.1M⚠ | $5.2K | USDT | 25x | |
 KuCoin | Trade | MINIMAX/USDT | Trading | $31.95 | 0.0% APR 0.000% every 4h | +28.2 bps | $34.7K | $1.3M⚠ | $106.2K | USDT | 20x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 17 of 20 venues absorb $10k · Typical cost: +10.8 bps – +34.3 bps
Too thin: Crypto.com Exchange
No fresh book data: Gate.io, Bitget
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
MINIMAXTightest spread
MINIMAXHighest volume
MINIMAXFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketCompany data
Company fundamentals
Updated 5h ago
Company data
Company fundamentals
Market cap
$10B
Updated 5h ago
Revenue
$79.1M
Trailing 12 months
Revenue growth
+4,611%
Next fiscal year
Profit margin
-2,368.0%
P/E
-5.2
Peer P/E 0.7
Free cash flow
-$280.6M
Trailing 12 months
More metrics
Net income
-$1.9B
Trailing 12 months
P/S
125.9
Peer P/E
0.7
Similar listed perps
Revenue estimate
$3.7B
Next fiscal year
Earnings
2027-03-08
Revenue est. $376.7M · Updated 5h ago
Dividend
-
Fundamental detail
Annual + quarterlyLatest revenue$79.1M
Net margin-2,368.0%
Free cash flow-$280.6M
Net debt$3.1B
PeriodRevenueGrowthNet incomeFCF
2022$207.8K--$73.7M-$11.3M
2023$3.5M+1,565%-$269.2M-$65.2M
2024$30.5M+782%-$465.2M-$259.2M
2025$79.1M+159%-$1.9B-$280.6M
PeriodGross marginOperating marginNet marginROEROA
20220.0%-6,911.8%-35,486.9%+96.5%-99.7%
2023-24.7%-2,927.7%-7,781.7%+78.7%-83.1%
2024+12.2%-939.0%-1,524.2%+58.2%-51.1%
2025+25.4%-406.6%-2,368.0%+70.8%-172.2%
PeriodCashDebtNet debtCurrent ratio
2022$4.7M$998.6M$993.9M0.49
2023$206.3M$4.5B$4.3B0.48
2024$288.9M$37.2M-$251.7M0.47
2025$527.7M$3.6B$3.1B0.27
PeriodMarket capEnterprise valueP/SP/E
2022$13.5B$14.5B64,928.5-184.0
2023$13.5B$17.8B3,898.4-50.2
2024$13.6B$13.3B444.3-29.2
2025$13.5B$16.6B171.1-7.2
PeriodRevenueGrowthNet incomeFCF
Q4 2024$11.1M--$160.9M-$63.2M
Q4 2025$25.6M+131%-$1.4B-$70.7M
PeriodGross marginOperating marginNet marginROEROA
Q4 2024+29.2%-771.9%-1,453.6%+20.1%-17.7%
Q4 2025+29.7%-360.0%-5,310.7%+51.3%-124.8%
PeriodCashDebtNet debtCurrent ratio
Q4 2024$288.9M$37.2M-$251.7M0.47
Q4 2025$527.9M$3.6B$3.1B0.27
PeriodMarket capEnterprise valueP/SP/E
Q4 2024$13.6B$13.3B1,225.1-20.9
Q4 2025$13.5B$16.6B529.2-2.5
Refreshed 5h ago
Charts: revenue, profit, cash flow & valuation
CashDebt
Gross marginOperating marginNet margin
P/EP/S
CashDebt
Gross marginOperating marginNet margin
P/EP/S
Next catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-03-08
Revenue est. $376.7M · Updated 5h ago
No unusual perp activity right now.
FMP reference data
Market context
FMP reference data
Market context
Hong Kong Stock Exchange
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-17.76$3.7B+4,611%12
FY 2027-20.15$10.9B+13,680%14
FY 2028-19.00$23.1B+29,138%7
FY 2029-12.59$44.7B+56,360%7
FY 20302.08$73.8B+93,139%11
Q3 2026-9.41$3.7B+14,519%1
Company events
32027-03-08EarningsActual - / Estimate -10.03-
2026-05-07Earnings--
2026-03-02EarningsActual -4.45 / Estimate --
Peer comparison
Similar listed perpsAnalysts
PendingNo analyst data available yet.
Ownership
MINIMAX-PERPOwnership data is being populated.
Transcripts
PendingNo transcripts available yet.
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.No articles from Reuters, WSJ, Bloomberg or FT for this company in our feed.
FMP company data
Company intelligence
Updated: Sep 17, 2026, 07:03 PM UTC
FMP company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Software - Infrastructure
- Chief executive
- Jun Jie Yan
- Employees
- 415
- IPO date
- Jan 9, 2026
- Country
- CN
- Exchange
- Hong Kong Stock Exchange
Altman Z-scorei271.14
Piotroski scorei3/9
FMP ratingiC
Owner earningsi-$296.86M-$0.97 per share
Rating factors
- Return on equityi
- 5
- Return on assetsi
- 1
- Debt to equityi
- 1
- Price to earningsi
- 1
- Price to booki
- 1
Market cap history
HK$77.83B-42.5%Jun 26 – Sep 26
Latest: HK$77.83B · 2026-09-17High: HK$188.31B · 2026-06-22Low: HK$58.98B · 2026-07-20
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| 3033.HK | 1.26% | 3.2M |
| AIQ | 0.33% | 1.1M |
| 3067.HK | 1.25% | 681.3K |
| HSTC.L | 1.42% | 468.4K |
| VXUS | 0% | 250.1K |
| VWO | 0.01% | 236.2K |
| LOUP | 3.41% | 230.8K |
| KWEB | 0.15% | 226.7K |
| 371160.KS | 1.25% | 157.9K |
| SPDW | 0.01% | 151.1K |
| CQQQ | 0.16% | 144.4K |
| 2837.HK | 1.26% | 111.3K |
Analyst track record
How the analysts covering MINIMAX have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 0 | 0 |
| Analysts | 0 | 0 |
| Buy / hold / sell | – | – |
| Upgrades / downgrades / initiations | 0 / 0 / 0 | 0 / 0 / 0 |
| Price targets hit / missed | – | – |
| Avg. return after a rating (TipRanks) | – | – |
| Best / worst call | – / – | – / – |
After buy calls on this stock: not enough measured cases yet
TipRanks data via FMP · computed Oct 2, 2026 · 0 ratings
Frequently asked questions
Where can I trade MINIMAX perpetual futures?
MiniMax Group (MINIMAX) perpetual futures trade on 20 crypto venues, including Binance, Ourbit, Deepcoin. PerpEquities compares them by live price, funding rate, open interest and liquidity.
Can I trade MINIMAX around the clock?
Yes. Unlike the underlying stock, MINIMAX perpetuals trade 24/7 — including weekends and outside regular market hours.
What is the funding rate on MINIMAX perpetuals?
Right now the MINIMAX perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to +23.5% across 20 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.
How does the MINIMAX perp price compare to the MiniMax Group stock?
The venue-median MINIMAX perp mark is $31.9 versus a reference stock price of $31.9, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.
What is a MINIMAX perpetual future?
A MINIMAX perpetual is a derivative that tracks the price of MiniMax Group with no expiry date. It lets you take long or short exposure to MiniMax Group on crypto venues, around the clock.
What is MINIMAXUSDT perpetual?
MINIMAXUSDT is the symbol most crypto exchanges use for the MiniMax Group perpetual settled in USDT (Tether). It tracks the MINIMAX share price through an index, trades 24/7 with leverage and never expires.
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