Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against BingX−0.040%7-day average — · you buy dearer than you sell

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

Long on BingX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.040% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4474	0.0100	pay 0.0050% / 4h	2h 50m	—	$22.2M	—
Short	gTrade (Gains Network) ONDO/USD	0.4472	L +0.0003% / S −0.0007%	get 0.0001% / 1h	50m 04s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.040%Rate

Funding earned: −$19.52
Price spread: −0.040% → 0.000%: −$4.05
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$43.56
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 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 BingX live order book, 3 min ago	3.36 bp	8.7 bp −$9	15.3 bp −$153	43.1 bp −$4,314	441.5 bp −$220.7K
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	−0.0357%	1h	0.4477	+0.074%	$2.7M	$8.0M	50x	as long as short
ApeX Omni ONDOUSDT	−0.0132%	1h	0.4463	−0.246%	$165K	$356K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4468	−0.128%	$253K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0007%	1h	0.4472	−0.040%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.101%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4474	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4478	+0.089%	$408K	$779K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4473	−0.026%	$693K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4472	−0.039%	$65.9M	$227.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4473	−0.022%	$72.1M	$122.3M	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	0.4476	+0.045%	$17.2M	$76.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4464	−0.219%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4475	+0.013%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4471	−0.067%	$11.7M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4471	−0.067%	$45.7M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4472	−0.045%	$13.5M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4472	−0.045%	$25.2M	$39.8M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4474	long leg	—	$22.2M	—
Variational Omni ONDO	+0.0100%	4h	0.4468	−0.138%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4457	−0.384%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4467	−0.156%	$420K	$965K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4478	+0.089%	$111K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4473	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4479	+0.112%	$466	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4487	+0.291%	$131K	$499K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4475	+0.012%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4477	+0.078%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4479	+0.105%	$39K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0106%	1h	0.4476	+0.034%	$203K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0174%	1h	0.4478	+0.080%	$39.6M	$25.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4481	+0.154%	$369	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4472	−0.045%	$291K	$802K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4470	−0.101%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4470	−0.089%	$3.2M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0420%	1h	0.4479	+0.112%	$33K	$339K	25x	as long as short
Lighter ONDO	+0.0568%	1h	0.4479	+0.114%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0582% / S −0.0186%	1h	0.4472	−0.040%	$534K	—	100x	as long as short
Phemex ONDOUSDT	+0.0679%	4h	0.4477	+0.067%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4474	−0.005%	$2K	—	20x	as long as short