Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h +0.083%

Price spread now: Kraken Futures against BingX−0.126%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$500.495% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

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 −$1 a day on $10k at the current rate, and Kraken Futures is 0.126% cheaper against BingX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.278%, 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	0.4416	0.0100	pay 0.0050% / 4h	1h 13m	—	$21.8M	—
Short	Kraken Futures PF_ONDOUSD	0.4410	0.0061	get 0.0008% / 1h	13m 18s	$2.6M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$8.17
Price spread: −0.126% → 0.000%: −$12.59
Slippage, 4 orders: −$29.54
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$70.3
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Kraken Futures: live order book, 6 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, 5 min ago	2.26 bp	8.8 bp −$9	12.7 bp −$127	33.8 bp −$3,380	210.3 bp −$105.1K
Sell Kraken Futures live order book, 6 min ago	3.38 bp	14.8 bp −$15	20.5 bp −$205	396.9 bp −$39.7K	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
dYdX ONDO-USD	+0.0001%	1h	0.4418	+0.048%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4414	−0.041%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.442%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDshort	+0.0061%	1h	0.4410	−0.126%	$2.6M	$8.2M	50x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4411	−0.113%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4419	+0.062%	$373K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4409	−0.169%	$64.1M	$225.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4408	−0.181%	$69.9M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	−0.136%	$17.1M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4426	+0.220%	$73K	$86K	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	0.4417	+0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4415	−0.023%	$11.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4409	−0.159%	$47.6M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4412	−0.091%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4408	−0.181%	$25.2M	$39.5M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4416	long leg	—	$21.8M	—
Variational Omni ONDO	+0.0100%	4h	0.4430	+0.309%	$718K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4435	+0.430%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4435	+0.440%	$414K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4436	+0.453%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4420	+0.079%	$68K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4419	+0.068%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4412	−0.091%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4420	+0.091%	$130K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4409	−0.159%	$4.2M	$7.7M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	−0.105%	$400K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4414	−0.045%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4418	+0.040%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0143%	1h	0.4421	+0.113%	$38.3M	$24.3M	10x	as long as short
Aster ONDOUSDT	+0.0186%	4h	0.4417	+0.034%	$711K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0189%	1h	0.4409	−0.161%	$191K	$979K	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4413	−0.068%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4427	+0.240%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4414	−0.045%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4420	+0.095%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.136%	$281K	$727K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4413	−0.070%	$487K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4420	+0.088%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4417	+0.016%	$2K	—	20x	as long as short