Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0645%/8h= −70.6% APRpaid last 24h −0.683%

Price spread now: Injective against BingX+0.572%7-day average −0.962% · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.398%−$340 on $10k

Price spread, last 3 days (all we have)−1.274%−$127 · spread now +0.572%, 7d avg −0.962%

Together, before fees−4.671%−$467 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.534% dearer against BingX than usual: you sell high and buy low (spread +0.572% now, against its 7-day average of −0.962%): +$153 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 7.9 days. At the pace of the last 7 days (−3.398% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4542	0.0100	pay 0.0050% / 4h	30m 57s	—	$740K	—
Short	Injective ONDO/USDC PERP	0.4568	−0.0545	pay 0.0068% / 1h	30m 57s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.572%Rate

Funding earned: −$135.39
Price spread: +0.572% → −0.962%: $153.44
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $8.04
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 73 min ago; Injective: 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, 73 min ago	2.20 bp	49.5 bp −$50	99.3 bp −$993	504.8 bp −$50.5K	874.0 bp −$437.0K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0803%	1h	0.4542	+0.007%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERPshort	−0.0545%	1h	0.4568	+0.572%	$888	$216K	5.5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4543	+0.028%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4543	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4540	−0.033%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4545	+0.063%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4542	+0.003%	$68.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4541	−0.022%	$73.5M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4541	−0.022%	$17.6M	$80.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4548	+0.139%	$74K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4540	−0.054%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4539	−0.066%	$11.9M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4541	−0.022%	$48.7M	$43.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4543	+0.022%	$14.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4541	−0.022%	$25.6M	$41.4M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4542	long leg	—	$740K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4545	+0.057%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4542	0.000%	$779K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4548	+0.122%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4547	+0.110%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4548	+0.132%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4547	+0.101%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4544	+0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4544	+0.044%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4554	+0.264%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4545	+0.066%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4540	−0.039%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4540	−0.039%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4545	+0.057%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4544	+0.044%	$35K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0202%	1h	0.4546	+0.077%	$40.2M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	+0.130%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4541	−0.022%	$297K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4544	+0.044%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4546	+0.081%	$374	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4543	+0.017%	$542K	—	100x	as long as short
Lighter ONDO	+0.0808%	1h	0.4552	+0.222%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4543	+0.015%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4192%	1h	0.4539	−0.060%	$257K	$132K	5x	as long as short