Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Binance+0.038%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.038% dearer against Binance than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4390	0.0100	pay 0.0050% / 4h	3h 56m	$63.5M	$230.7M	75x
Short	gTrade (Gains Network) ONDO/USD	0.4392	L +0.0003% / S −0.0011%	get 0.0001% / 1h	56m 52s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.038%Rate

Funding earned: −$18.76
Price spread: +0.038% → 0.000%: $3.75
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$35
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 2 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 2 min ago	1.14 bp	9.5 bp −$9	14.1 bp −$141	47.1 bp −$4,711	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0159%	1h	0.4390	−0.006%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4394	+0.091%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4392	+0.038%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.052%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4391	+0.031%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4390	−0.003%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4396	+0.145%	$363K	$847K	10x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4390	long leg	$63.5M	$230.7M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4387	−0.071%	$68.0M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4388	−0.048%	$17.1M	$73.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4393	+0.068%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4392	+0.046%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4389	−0.026%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4391	+0.020%	$44.6M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4391	+0.020%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4390	−0.003%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4392	+0.043%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4391	+0.027%	$185K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4399	+0.196%	$719K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4398	+0.179%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4394	+0.082%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4398	+0.179%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4392	+0.054%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4397	+0.157%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4392	+0.043%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4400	+0.225%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4391	+0.020%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4395	+0.119%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4390	+0.004%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4393	+0.066%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0192%	1h	0.4394	+0.077%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0227%	4h	0.4393	+0.066%	$761K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4401	+0.248%	$272K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0285%	1h	0.4392	+0.047%	$37.8M	$24.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4390	−0.003%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	+0.170%	$35K	$218K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4392	+0.043%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4391	+0.010%	$522K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4392	+0.048%	$2K	—	20x	as long as short