Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against BingX+0.334%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$450.449% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)−0.229%−$23 · spread now +0.334%, 7d avg +0.002%

Together, before fees−0.237%+ Points / potential airdropGRVT: Active · farm board−$24 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: GRVT is 0.332% dearer against BingX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4581	0.0100	pay 0.0050% / 4h	3h 41m	—	$22.3M	—
Short	GRVT ONDO_USDT_Perp	0.4596	0.0100	get 0.0050% / 4h	3h 41m	$426K	$959K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.334%Rate

Funding earned: $0
Price spread: +0.334% → +0.002%: $33.19
Slippage, 4 orders: −$25.91
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$11.72
Costs to cover: 0.449%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; GRVT: live order book, 32 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, 7 min ago	2.20 bp	7.8 bp −$8	15.7 bp −$157	46.2 bp −$4,619	366.2 bp −$183.1K
Sell GRVT live order book, 32 min ago	3.28 bp	13.9 bp −$14	34.3 bp −$343	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	−0.0872%	1h	0.4579	−0.036%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4573	−0.168%	$259K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4581	0.000%	$33K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4580	−0.018%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.284%	$888	$216K	5.5x	as long as short
Gate ONDO_USDT	+0.0068%	4h	0.4580	−0.022%	$12.0M	$16.6M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4580	−0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4579	−0.033%	$439K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4582	+0.022%	$725K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4579	−0.049%	$68.4M	$226.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4579	−0.044%	$74.2M	$120.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4581	0.000%	$17.6M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.148%	$76K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4575	−0.129%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4580	−0.022%	$49.7M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4583	+0.044%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4582	+0.022%	$25.9M	$40.0M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4581	long leg	—	$22.3M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4583	+0.050%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4583	+0.039%	$819K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4594	+0.276%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4596	+0.334%	$426K	$959K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4560	−0.458%	$174K	$326K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4582	+0.028%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4581	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4581	0.000%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4588	+0.153%	$135K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4582	+0.022%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4569	−0.254%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4580	−0.032%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4582	+0.022%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0117%	1h	0.4586	+0.115%	$40.5M	$26.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4582	+0.028%	$377	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4577	−0.096%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4584	+0.065%	$298K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4579	−0.044%	$3.3M	$3.1M	75x	as long as short
Lighter ONDO	+0.0536%	1h	0.4591	+0.214%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4580	−0.024%	$547K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4580	−0.016%	$2K	—	20x	as long as short