Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.136%

Price spread now: Coinbase International against BingX+0.304%7-day average +0.240% · you sell dearer than you buy

Net, funding: paid 7d − costs+$18as in the Funding arb table

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

costs, in and out, $10k−$590.586% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.767%+$77 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.304%, 7d avg +0.240%

Together, before fees+0.694%+$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.065% dearer against BingX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.240%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4603	0.0100	pay 0.0050% / 4h	3h 17m	—	$22.1M	—
Short	Coinbase International ONDO-PERP-INTX	0.4617	0.0280	get 0.0035% / 1h	17m 35s	$299K	$820K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.304%Rate

Funding earned: $37.8
Price spread: +0.304% → +0.240%: $6.45
Slippage, 4 orders: −$38.55
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$14.3
Costs to cover: 0.586%
Break-even: 9.6 days

Slippage from BingX: live order book, 6 min ago; Coinbase International: live order book, 56 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 BingX live order book, 6 min ago	1.08 bp	11.9 bp −$12	19.3 bp −$193	48.5 bp −$4,851	351.0 bp −$175.5K
Sell Coinbase International live order book, 56 min ago	8.77 bp	13.8 bp −$14	41.9 bp −$419	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	−0.0869%	1h	0.4599	−0.094%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4600	−0.059%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4591	−0.257%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.760%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4596	−0.152%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4588	−0.320%	$430K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4601	−0.044%	$734K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4602	−0.022%	$69.0M	$221.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4599	−0.087%	$74.2M	$119.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4604	+0.022%	$17.7M	$78.2M	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	0.4593	−0.209%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4605	+0.038%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4601	−0.043%	$12.1M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4602	−0.022%	$49.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4602	−0.022%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4606	+0.065%	$26.1M	$38.8M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4603	long leg	—	$22.1M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4604	+0.020%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4605	+0.038%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4606	+0.058%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4603	0.000%	$432K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.022%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4591	−0.254%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4589	−0.304%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4598	−0.109%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4621	+0.391%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4599	−0.087%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4605	+0.052%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4604	+0.028%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4597	−0.119%	$40K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4610	+0.150%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4608	+0.106%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4617	+0.304%	$299K	$820K	50x
Hyperliquid ONDO	+0.0332%	1h	0.4610	+0.156%	$41.0M	$25.1M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4587	−0.348%	$3.3M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4598	−0.109%	$34K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4591	−0.257%	$548K	—	100x	as long as short
Lighter ONDO	+0.0624%	1h	0.4611	+0.176%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4589	−0.298%	$2K	—	20x	as long as short