Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.803%

Price spread now: Injective against Binance−0.015%57s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.353%−$335 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 57 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	Binance ONDOUSDT	0.4523	0.0100	pay 0.0050% / 4h	2h 36m	$66.5M	$219.8M	75x
Short	Injective ONDO/USDC PERP	0.4522	0.0033	get 0.0004% / 1h	36m 27s	$1K	$132K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.015%Rate

Funding earned: −$14
Price spread: −0.015% → 0.000%: −$1.45
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$25.47
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; Injective: 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, 7 min ago	1.11 bp	8.9 bp −$9	16.2 bp −$162	55.1 bp −$5,513	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.1121%	1h	0.4536	+0.299%	$3.0M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4521	−0.044%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.041%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4522	−0.015%	$1K	$132K	5.5x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4522	−0.015%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4526	+0.068%	$425K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4527	+0.096%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4523	long leg	$66.5M	$219.8M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4521	−0.037%	$73.4M	$117.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4523	+0.008%	$17.7M	$79.9M	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	0.4513	−0.209%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4522	−0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4523	+0.008%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4522	−0.015%	$47.7M	$45.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4523	+0.008%	$13.8M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4524	+0.030%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4522	−0.015%	—	$745K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4537	+0.322%	$196K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.069%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	−0.103%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4523	+0.006%	$417K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4521	−0.037%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4525	+0.052%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	+0.295%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4535	+0.273%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4544	+0.472%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4534	+0.251%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4522	−0.024%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4522	−0.025%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4537	+0.324%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0148%	1h	0.4527	+0.105%	$40.7M	$27.5M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0191%	1h	0.4538	+0.339%	$29K	$354K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	+0.251%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4530	+0.162%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4526	+0.074%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0512%	1h	0.4533	+0.222%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4521	−0.042%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4524	+0.020%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9907%	1h	0.4528	+0.121%	$256K	$123K	5x	as long as short