Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against ApeX Omni−0.413%93s7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as 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−$370.371% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now −0.413%, 7d avg −0.046%

Together, before fees+0.284%+$28 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: Bitget is 0.367% cheaper against ApeX Omni than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 93 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	0.4361	0.0100	pay 0.0013% / 1h	59m 59s	$133K	$356K	50x
Short	Bitget ONDOUSDT	0.4343	0.0100	get 0.0050% / 4h	1h 59m	$24.9M	$39.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.413%Rate

Funding earned: $0
Price spread: −0.413% → −0.046%: −$36.67
Slippage, 4 orders: −$15.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$73.72
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 47 min ago; Bitget: live order book, 4 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, 47 min ago	1.15 bp	7.8 bp −$8	23.0 bp −$230	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.30 bp	10.4 bp −$10	17.3 bp −$173	43.3 bp −$4,326	doesn't fit

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	−0.0240%	1h	0.4346	−0.348%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4346	−0.352%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0008%	1h	0.4349	−0.272%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.747%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4350	−0.250%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4348	−0.298%	$347K	$895K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4348	−0.307%	$36.7M	$27.2M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4347	−0.332%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4343	−0.415%	$63.1M	$238.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	−0.482%	$67.8M	$126.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4340	−0.482%	$17.3M	$73.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4351	−0.225%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4346	−0.349%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4344	−0.390%	$12.3M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4342	−0.436%	$43.1M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	−0.436%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4343	−0.413%	$24.9M	$39.8M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4344	−0.390%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	−0.385%	$181K	$992K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4348	−0.305%	$645K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4356	−0.125%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4356	−0.104%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4361	long leg	$133K	$356K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4348	−0.294%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4347	−0.321%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	−0.183%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4346	−0.344%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	−0.138%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4347	−0.321%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4349	−0.280%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4340	−0.476%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4350	−0.264%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4348	−0.307%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4366	+0.115%	$217K	$756K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4361	+0.007%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4353	−0.183%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0441%	1h	0.4347	−0.321%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4345	−0.362%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4346	−0.333%	$2K	—	20x	as long as short