Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bitget+0.078%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.078%, 7d avg −0.045%

Together, before fees−0.002%+ Points / potential airdropExtended: Active · farm board$0 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: Extended is 0.123% dearer against Bitget than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ONDOUSDT	0.4447	0.0100	pay 0.0050% / 4h	2h 54m	$25.1M	$39.5M	50x
Short	Extended ONDO-USD	0.4450	0.0104	get 0.0013% / 1h	54m 31s	$402K	$816K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0.84
Price spread: +0.078% → −0.045%: $12.33
Slippage, 4 orders: −$21.67
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$25.49
Costs to cover: 0.387%
Break-even: 219.5 days

Slippage from Bitget: live order book, 4 min ago; Extended: live order book, 14 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 Bitget live order book, 4 min ago	3.36 bp	12.5 bp −$12	21.9 bp −$219	doesn't fit	doesn't fit
Sell Extended live order book, 14 min ago	4.35 bp	6.8 bp −$7	14.3 bp −$143	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
ApeX Omni ONDOUSDT	−0.1599%	1h	0.4475	+0.630%	$167K	$332K	50x	as long as short
Kraken Futures PF_ONDOUSD	−0.0358%	1h	0.4460	+0.288%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4454	+0.165%	$252K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4457	+0.234%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.721%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4458	+0.247%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4447	+0.006%	$407K	$781K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4448	+0.029%	$39.4M	$25.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4455	+0.182%	$705K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4442	−0.112%	$65.5M	$226.4M	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	0.4444	−0.067%	$71.3M	$121.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4450	+0.067%	$17.1M	$76.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4462	+0.346%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4442	−0.122%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4447	0.000%	$11.7M	$15.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4448	+0.022%	$45.3M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4447	0.000%	$13.5M	$10.9M	50x	as long as short
Bitget ONDOUSDTlong	+0.0100%	4h	0.4447	long leg	$25.1M	$39.5M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4450	+0.067%	—	$756K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4460	+0.281%	$225K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4454	+0.153%	$789K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4475	+0.623%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4454	+0.158%	$419K	$965K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4450	+0.058%	$116K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4460	+0.292%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4461	+0.315%	$464	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4468	+0.472%	$130K	$499K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4448	+0.034%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4450	+0.078%	$402K	$816K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4459	+0.275%	$39K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0199%	1h	0.4460	+0.292%	$33K	$339K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4508	+1.367%	$37K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4445	−0.056%	$366	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4466	+0.427%	$290K	$800K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4457	+0.225%	$3.3M	$3.0M	75x	as long as short
Lighter ONDO	+0.0528%	1h	0.4462	+0.349%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0582% / S −0.0186%	1h	0.4458	+0.239%	$532K	—	100x	as long as short
Phemex ONDOUSDT	+0.0760%	4h	0.4464	+0.382%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4445	−0.039%	$2K	—	20x	as long as short