Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1299%/8h= +142.3% APRpaid last 24h +1.638%

Price spread now: dYdX against Binance+0.206%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs+$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1711.714% of the position

Long on Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.679%+$268 on $10k

Price spread, last 4 days (all we have)−0.292%−$29 · spread now +0.206%, 7d avg −0.030%

Together, before fees+2.387%+$239 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and dYdX is 0.236% dearer against Binance than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4557	0.0100	pay 0.0050% / 4h	1h 36m	$67.1M	$225.1M	75x
Short	dYdX ONDO-USD	0.4566	0.1399	get 0.0175% / 1h	36m 00s	$258K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Binance. 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 BinancebpFee dYdXbpOrdersPrice spread, now +0.206%Rate

Funding earned: $272.87
Price spread: +0.206% → −0.030%: $23.59
Slippage, 4 orders: −$151.44
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $125.02
Costs to cover: 1.714%
Break-even: 3.8 days

Slippage from Binance: live order book, 7 min ago; dYdX: live order book, 48 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 Binance live order book, 7 min ago	1.10 bp	6.1 bp −$6	11.6 bp −$116	49.4 bp −$4,942	doesn't fit
Sell dYdX live order book, 48 min ago	27.19 bp	125.2 bp −$125	325.0 bp −$3,250	473.7 bp −$47.4K	1197.7 bp −$598.8K

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	−0.0353%	1h	0.4558	+0.020%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4563	+0.140%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4562	+0.112%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4566	+0.199%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4560	+0.063%	$740K	$2.1M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4557	long leg	$67.1M	$225.1M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4552	−0.108%	$74.1M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4551	−0.130%	$17.8M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.349%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4565	+0.176%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4557	+0.002%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4558	+0.024%	$47.9M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4559	+0.046%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4560	+0.068%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4559	+0.046%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4560	+0.076%	$221K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−0.240%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4609	+1.135%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4598	+0.902%	$431K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4565	+0.166%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4561	+0.090%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4561	+0.090%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4572	+0.331%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4559	+0.046%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4564	+0.155%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4564	+0.145%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4566	+0.199%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−0.079%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4601	+0.967%	$894	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4564	+0.155%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.384%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.375%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4568	+0.243%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4568	+0.241%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0492%	1h	0.4564	+0.147%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0592%	1h	0.4568	+0.254%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0191%	1h	0.4562	+0.102%	$549K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4564	+0.158%	$2K	—	20x	as long as short
dYdX ONDO-USDshort	+0.1399%	1h	0.4566	+0.206%	$258K	$130K	5x