Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against ApeX Omni−0.133%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 3 days (all we have)−0.178%−$18 · spread now −0.133%, 7d avg −0.071%

Together, before fees−0.233%−$23 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: Gate is 0.062% cheaper against ApeX Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ONDOUSDT	0.4506	0.0100	pay 0.0013% / 1h	47m 11s	$159K	$330K	50x
Short	Gate ONDO_USDT	0.4500	0.0100	get 0.0050% / 4h	2h 47m	$11.8M	$18.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.071%: −$6.18
Slippage, 4 orders: −$34.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$65.21
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 40 min ago; Gate: live order book, 1 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, 40 min ago	3.32 bp	10.9 bp −$11	24.6 bp −$246	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.11 bp	19.6 bp −$20	40.4 bp −$404	50.7 bp −$5,068	81.1 bp −$40.6K

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	−0.1129%	1h	0.4505	−0.023%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4504	−0.044%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4503	−0.068%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4508	+0.053%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−1.997%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4503	−0.067%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4504	−0.050%	$429K	$671K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4505	−0.019%	$40.6M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4505	−0.022%	$752K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4503	−0.075%	$66.3M	$219.9M	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	0.4500	−0.133%	$72.4M	$117.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4501	−0.111%	$17.6M	$79.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4509	+0.062%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4503	−0.071%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4500	−0.133%	$11.8M	$18.6M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4502	−0.089%	$47.4M	$45.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4502	−0.089%	$13.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4502	−0.089%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4501	−0.111%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4503	−0.067%	$194K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4504	−0.055%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4503	−0.063%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4501	−0.120%	$417K	$938K	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4506	long leg	$159K	$330K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4504	−0.047%	$79K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4503	−0.067%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4502	−0.089%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4512	+0.133%	$125K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4501	−0.111%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4502	−0.095%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4502	−0.091%	$402K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4504	−0.040%	$35K	—	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4520	+0.311%	$304K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4507	+0.022%	$3.2M	$3.0M	75x	as long as short
Lighter ONDO	+0.0416%	1h	0.4509	+0.075%	$1.4M	$2.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0504%	1h	0.4507	+0.029%	$371	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0615% / S −0.0203%	1h	0.4502	−0.092%	$560K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4503	−0.070%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0398%	1h	0.4503	−0.060%	$255K	$117K	5x	as long as short