Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Binance−0.042%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$13 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.042%, 7d avg −0.012%

Together, before fees−0.178%−$18 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: Phemex is 0.030% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4520	0.0100	pay 0.0050% / 4h	2h 29m	$66.5M	$220.0M	75x
Short	Phemex ONDOUSDT	0.4518	0.0100	get 0.0050% / 4h	2h 29m	$4.8M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.012%: −$3.04
Slippage, 4 orders: −$27.32
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$52.36
Costs to cover: 0.493%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Phemex: 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 Binance live order book, 14 min ago	1.11 bp	8.9 bp −$9	16.2 bp −$162	55.1 bp −$5,513	doesn't fit
Sell Phemex live order book, 4 min ago	3.31 bp	18.4 bp −$18	22.6 bp −$226	doesn't fit	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	−0.1126%	1h	0.4518	−0.045%	$3.0M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4517	−0.064%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4518	−0.052%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4531	+0.241%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.047%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4517	−0.064%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4521	+0.024%	$425K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4521	+0.025%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4520	long leg	$66.5M	$220.0M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4520	+0.002%	$73.4M	$117.9M	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	0.4520	+0.002%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4536	+0.347%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4521	+0.018%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4518	−0.042%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4520	+0.002%	$47.4M	$45.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4518	−0.042%	$13.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4520	+0.002%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4518	−0.042%	—	$22.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−0.002%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4528	+0.186%	$783K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4531	+0.250%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4535	+0.327%	$418K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4533	+0.290%	$160K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4522	+0.044%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4521	+0.024%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4517	−0.064%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4531	+0.246%	$126K	$512K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4518	−0.042%	$4.8M	$6.2M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4520	−0.002%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4518	−0.038%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4520	−0.006%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0216%	1h	0.4524	+0.098%	$40.7M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	+0.312%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4526	+0.135%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4525	+0.117%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0536%	1h	0.4527	+0.151%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4517	−0.071%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4521	+0.025%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9579%	1h	0.4521	+0.026%	$256K	$123K	5x	as long as short