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 0.000%

Price spread now: SunX against BingX+0.197%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1531.526% of the position

Long on BingX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)−0.247%−$25 · spread now +0.197%, 7d avg +0.004%

Together, before fees−0.226%−$23 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: SunX is 0.193% dearer against BingX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4574	0.0100	pay 0.0050% / 4h	2m 35s	—	$22.2M	—
Short	SunX ONDO-USDT	0.4583	0.0100	get 0.0050% / 4h	2m 35s	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.197%Rate

Funding earned: $0
Price spread: +0.197% → +0.004%: $19.31
Slippage, 4 orders: −$134.62
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$133.31
Costs to cover: 1.526%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; SunX: live order book, 12 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, 11 min ago	2.19 bp	11.2 bp −$11	16.0 bp −$160	38.5 bp −$3,847	213.5 bp −$106.7K
Sell SunX live order book, 12 min ago	47.10 bp	67.4 bp −$67	doesn't fit	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	−0.0796%	1h	0.4582	+0.164%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.131%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4583	+0.197%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4581	+0.162%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4581	+0.153%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4575	+0.011%	$439K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4584	+0.227%	$40.6M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4579	+0.109%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4576	+0.044%	$68.4M	$226.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4575	+0.022%	$74.1M	$120.6M	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	0.4575	+0.022%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4586	+0.267%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4574	−0.003%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4575	+0.022%	$12.0M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4576	+0.044%	$49.1M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4581	+0.153%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4576	+0.044%	$25.9M	$40.3M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4574	long leg	—	$22.2M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4583	+0.201%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	−0.134%	$809K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4571	−0.073%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	−0.044%	$422K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	+0.022%	$174K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4585	+0.238%	$70K	$1.1M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4583	+0.197%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4583	+0.197%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4595	+0.459%	$135K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4582	+0.175%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4574	+0.010%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4573	−0.029%	$409K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4583	+0.206%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4577	+0.063%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4578	+0.085%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4581	+0.153%	$297K	$844K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4584	+0.219%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4582	+0.164%	$547K	—	100x	as long as short
Lighter ONDO	+0.0656%	1h	0.4586	+0.254%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4582	+0.171%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2428%	1h	0.4582	+0.171%	$259K	$132K	5x	as long as short