Funding arb · Price arb /

ONDO

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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 −0.003%

Price spread now: Gate against BingX−0.044%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$610.608% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.044%, 7d avg −0.013%

Together, before fees−0.003%$0 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: Gate is 0.031% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4506	0.0100	pay 0.0050% / 4h	2h 13m	—	$22.6M	—
Short	Gate ONDO_USDT	0.4504	0.0100	get 0.0050% / 4h	2h 13m	$11.8M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.013%: −$3.11
Slippage, 4 orders: −$35.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$63.93
Costs to cover: 0.608%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Gate: live order book, 5 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	2.21 bp	9.2 bp −$9	14.0 bp −$140	35.3 bp −$3,531	236.2 bp −$118.1K
Sell Gate live order book, 5 min ago	2.20 bp	26.6 bp −$27	43.2 bp −$432	52.0 bp −$5,198	80.6 bp −$40.3K

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	−0.1127%	1h	0.4513	+0.151%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4516	+0.222%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4515	+0.210%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4528	+0.497%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.355%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4514	+0.178%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4515	+0.194%	$422K	$680K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4510	+0.089%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4507	+0.026%	$66.5M	$220.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4507	+0.022%	$73.1M	$118.1M	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	0.4507	+0.022%	$17.7M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4528	+0.486%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4507	+0.011%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4504	−0.044%	$11.8M	$18.8M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4507	+0.022%	$47.4M	$45.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4504	−0.044%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4505	−0.022%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4506	long leg	—	$22.6M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4516	+0.220%	$193K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4521	+0.339%	$794K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4532	+0.588%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4528	+0.489%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4533	+0.599%	$160K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4516	+0.217%	$99K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4515	+0.200%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4515	+0.200%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4524	+0.399%	$129K	$520K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4517	+0.244%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.030%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4506	−0.007%	$403K	$979K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4516	+0.231%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0281%	1h	0.4513	+0.158%	$40.4M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.732%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4519	+0.289%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4518	+0.275%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4515	+0.204%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4514	+0.176%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4515	+0.193%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9242%	1h	0.4511	+0.109%	$255K	$129K	5x	as long as short