Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni+0.636%83s7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1301.297% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)−0.696%−$70 · spread now +0.636%, 7d avg −0.051%

Together, before fees−0.708%−$71 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.687% dearer against ApeX Omni than usual: you sell high and buy low, +$69 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ONDOUSDT	0.4560	0.0100	pay 0.0013% / 1h	40m 15s	$174K	$326K	50x
Short	BingX ONDO-USDC	0.4589	0.0100	get 0.0050% / 4h	3h 40m	—	$744K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.636%Rate

Funding earned: $0
Price spread: +0.636% → −0.051%: $68.73
Slippage, 4 orders: −$109.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$60.95
Costs to cover: 1.297%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 32 min ago; BingX: live order book, 49 min ago.

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 ApeX Omni live order book, 32 min ago	2.19 bp	7.9 bp −$8	23.7 bp −$237	doesn't fit	doesn't fit
Sell BingX live order book, 49 min ago	2.20 bp	51.5 bp −$52	93.3 bp −$933	644.5 bp −$64.4K	1037.6 bp −$518.8K

ONDO on 39 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
Kraken Futures PF_ONDOUSD	−0.0871%	1h	0.4587	+0.594%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4578	+0.401%	$259K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4586	+0.570%	$34K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4586	+0.571%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.175%	$888	$216K	5.5x	as long as short
Gate ONDO_USDT	+0.0086%	4h	0.4587	+0.592%	$12.0M	$16.6M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4586	+0.570%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4586	+0.565%	$438K	$709K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4590	+0.666%	$726K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4589	+0.632%	$68.6M	$225.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4588	+0.614%	$74.4M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4587	+0.592%	$17.6M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.610%	$76K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4589	+0.626%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4588	+0.614%	$49.7M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4589	+0.636%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4591	+0.680%	$25.9M	$40.0M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4589	+0.636%	—	$744K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4592	+0.697%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4583	+0.500%	$819K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4594	+0.738%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4596	+0.796%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4560	long leg	$174K	$326K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4591	+0.675%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4583	+0.504%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4587	+0.592%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4591	+0.680%	$135K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4588	+0.614%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4589	+0.642%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4583	+0.494%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4586	+0.572%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0137%	1h	0.4595	+0.759%	$40.8M	$26.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4590	+0.664%	$378	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4577	+0.364%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4586	+0.570%	$298K	$822K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4579	+0.417%	$3.3M	$3.1M	75x	as long as short
Lighter ONDO	+0.0560%	1h	0.4597	+0.820%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4585	+0.557%	$547K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4586	+0.576%	$2K	—	20x	as long as short