Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +1.617%

Price spread now: dYdX against BingX+0.067%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$402as in the Price arb table

costs, in and out, $10k−$4094.086% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.731%+$273 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.067%, 7d avg −0.002%

Together, before fees+2.657%+$266 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.069% dearer against BingX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.002%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +2.731%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4611	0.0100	pay 0.0050% / 4h	3h 13m	—	$22.1M	—
Short	dYdX ONDO-USD	0.4614	0	get 0.0000% / 1h	13m 04s	$261K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$21
Price spread: +0.067% → −0.002%: $6.89
Slippage, 4 orders: −$388.56
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$422.67
Costs to cover: 4.086%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; dYdX: live order book, 61 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, 10 min ago	1.08 bp	11.9 bp −$12	19.3 bp −$193	48.5 bp −$4,851	351.0 bp −$175.5K
Sell dYdX live order book, 61 min ago	91.11 bp	293.6 bp −$294	295.5 bp −$2,955	607.8 bp −$60.8K	1660.0 bp −$830.0K

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	−0.0866%	1h	0.4613	+0.050%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4614	+0.067%	$261K	$131K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4611	+0.002%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.933%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4613	+0.043%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4617	+0.130%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4614	+0.065%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4608	−0.056%	$69.0M	$221.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4607	−0.087%	$74.2M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4609	−0.043%	$17.6M	$78.0M	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	−0.382%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4613	+0.050%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4611	0.000%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4609	−0.043%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4608	−0.065%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4609	−0.043%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4611	long leg	—	$22.1M	—
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.070%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4615	+0.094%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	+0.030%	$426K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4616	+0.108%	$172K	$336K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4620	+0.204%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4614	+0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4614	+0.065%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4621	+0.217%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4613	+0.043%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4619	+0.173%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4609	−0.044%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4616	+0.112%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0120%	1h	0.4613	+0.037%	$232K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4614	+0.065%	$34K	$342K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.494%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4618	+0.143%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4632	+0.455%	$300K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4618	+0.152%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0365%	1h	0.4614	+0.074%	$41.0M	$25.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4611	+0.008%	$551K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4622	+0.247%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4613	+0.049%	$2K	—	20x	as long as short