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 Bitget−0.265%50s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1731.730% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 3 days (all we have)+0.214%+$21 · spread now −0.265%, 7d avg −0.011%

Together, before fees+0.286%+$29 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 0.254% cheaper against Bitget than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.011%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ONDOUSDT	0.4535	0.0100	pay 0.0050% / 4h	2h 37m	$25.6M	$41.0M	50x
Short	SunX ONDO-USDT	0.4523	0.0100	get 0.0050% / 4h	2h 37m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.265%Rate

Funding earned: $0
Price spread: −0.265% → −0.011%: −$25.38
Slippage, 4 orders: −$152.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$198.34
Costs to cover: 1.730%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; SunX: live order book, 7 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, 2 min ago	3.32 bp	14.4 bp −$14	18.8 bp −$188	59.4 bp −$5,938	doesn't fit
Sell SunX live order book, 7 min ago	47.62 bp	72.0 bp −$72	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	−0.1122%	1h	0.4532	−0.076%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4532	−0.066%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4529	−0.141%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.313%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.624%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4530	−0.110%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4534	−0.017%	$426K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4532	−0.075%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4535	0.000%	$66.7M	$219.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4534	−0.022%	$73.6M	$117.8M	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	0.4533	−0.044%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4513	−0.481%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4533	−0.047%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4529	−0.132%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4531	−0.088%	$47.8M	$45.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4529	−0.132%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDTlong	+0.0100%	4h	0.4535	long leg	$25.6M	$41.0M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4530	−0.110%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4533	−0.035%	$196K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.341%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	−0.375%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4523	−0.266%	$417K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4521	−0.309%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.035%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4523	−0.265%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4530	−0.110%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	−0.154%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4529	−0.132%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4532	−0.071%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4532	−0.065%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4533	−0.049%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0142%	1h	0.4540	+0.117%	$40.9M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	−0.022%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4515	−0.441%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4539	+0.095%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0496%	1h	0.4538	+0.068%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4528	−0.151%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4536	+0.019%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0076%	1h	0.4530	−0.113%	$256K	$123K	5x	as long as short