Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against BloFin−0.066%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.407%−$41 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.066%, 7d avg −0.007%

Together, before fees−0.400%−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.059% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4556	0.0340	pay 0.0170% / 4h	1h 28m	$3.3M	$3.1M	75x
Short	ApeX Omni ONDOUSDT	0.4553	0.0100	get 0.0013% / 1h	28m 00s	$161K	$334K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: −$50.4
Price spread: −0.066% → −0.007%: −$5.92
Slippage, 4 orders: −$16.88
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$95.2
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 54 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 BloFin live order book, 5 min ago	1.10 bp	7.1 bp −$7	11.5 bp −$115	44.6 bp −$4,456	doesn't fit
Sell ApeX Omni live order book, 54 min ago	2.20 bp	9.7 bp −$10	24.1 bp −$241	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	−0.0354%	1h	0.4547	−0.188%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4552	−0.084%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.132%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	+0.022%	$430K	$699K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4552	−0.096%	$729K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4549	−0.156%	$67.2M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4547	−0.198%	$74.0M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4547	−0.198%	$17.7M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4538	−0.402%	$74K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.018%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4546	−0.219%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.176%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4551	−0.110%	$13.7M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4547	−0.198%	$25.7M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4547	−0.198%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.138%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.375%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	−0.014%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4540	−0.351%	$426K	$938K	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4553	−0.066%	$161K	$334K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4560	+0.079%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.176%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.154%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.219%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4553	−0.074%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4549	−0.151%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	−0.076%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.033%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.263%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.110%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.176%	$300K	$864K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4556	long leg	$3.3M	$3.1M	75x
01 Exchange ONDOUSD	+0.0400%	1h	0.4566	+0.213%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0420%	1h	0.4551	−0.103%	$40.8M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	−0.084%	$568K	—	100x	as long as short
Lighter ONDO	+0.0648%	1h	0.4557	+0.033%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4555	−0.024%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2869%	1h	0.4552	−0.079%	$258K	$129K	5x	as long as short