Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.130%

Price spread now: Lighter against BingX+0.076%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.336% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 7 days−0.189%−$19 · spread now +0.076%, 7d avg +0.093%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4334	0.0100	pay 0.0050% / 4h	44m 31s	—	$23.1M	—
Short	Lighter ONDO	0.4337	0.0096	get 0.0012% / 1h	44m 31s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$0.84
Price spread: +0.076% → +0.093%: −$1.71
Slippage, 4 orders: −$23.55
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$36.1
Costs to cover: 0.336%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 2 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, 9 min ago	2.32 bp	7.3 bp −$7	13.6 bp −$136	37.7 bp −$3,766	253.8 bp −$126.9K
Sell Lighter live order book, 2 min ago	4.37 bp	9.9 bp −$10	26.9 bp −$269	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	−0.0175%	1h	0.4333	−0.033%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4334	−0.005%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.399%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4337	+0.076%	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4333	−0.029%	$348K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4336	+0.046%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4336	+0.043%	$62.8M	$233.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4334	0.000%	$68.1M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	+0.023%	$17.3M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4333	−0.030%	$71K	$81K	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	0.4337	+0.063%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4333	−0.023%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4336	+0.046%	$44.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	+0.023%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	+0.046%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4334	long leg	—	$23.1M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4336	+0.055%	$177K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4338	+0.084%	$736K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4341	+0.155%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4339	+0.114%	$400K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4337	+0.069%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4337	+0.060%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4334	0.000%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4335	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	+0.023%	$451	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4345	+0.254%	$129K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4334	0.000%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.028%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4333	−0.033%	$358K	$809K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	+0.058%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4336	+0.046%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4337	+0.065%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4344	+0.231%	$215K	$733K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	−0.042%	$35K	$221K	10x	as long as short
Hyperliquid ONDO	+0.0334%	1h	0.4341	+0.166%	$36.6M	$27.1M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	+0.092%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4335	+0.018%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4335	+0.033%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1551%	1h	0.4334	−0.006%	$243K	$156K	5x	as long as short