Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Aevo against Bybit−0.014%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4603	0.0100	pay 0.0050% / 4h	56m 19s	$74.6M	$122.5M	50x
Short	Aevo ONDO-PERP	0.4602	0.0104	get 0.0013% / 1h	56m 19s	$45K	$8K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.014%Rate

Funding earned: $0.84
Price spread: −0.014% → 0.000%: −$1.39
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$27.55
Costs to cover: 0.270%
Break-even: 236.6 days

Slippage unknown: Bybit: live order book, 3 min ago; Aevo: no order-book sample. Net counts fees only.

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 Bybit live order book, 3 min ago	1.09 bp	7.8 bp −$8	13.7 bp −$137	47.3 bp −$4,734	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0794%	1h	0.4591	−0.259%	$2.8M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.760%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.039%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4603	0.000%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4600	−0.065%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4602	−0.022%	$727K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4605	+0.039%	$68.6M	$227.0M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4603	long leg	$74.6M	$122.5M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4602	−0.022%	$18.0M	$81.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4591	−0.256%	$75K	$89K	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	0.4599	−0.095%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4600	−0.065%	$12.1M	$17.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4603	0.000%	$49.8M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4601	−0.043%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4605	+0.043%	$26.1M	$41.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4602	−0.022%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	−0.589%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4584	−0.405%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4588	−0.326%	$423K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4581	−0.478%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4604	+0.015%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4591	−0.261%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4593	−0.217%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4600	−0.065%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4593	−0.217%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4600	−0.055%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4601	−0.052%	$411K	$851K	25x	as long as short
Aevo ONDO-PERPshort	+0.0104%	1h	0.4602	−0.014%	$45K	$8K	3x
Phoenix ONDO	+0.0142%	1h	0.4593	−0.224%	$38K	$257K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0267%	1h	0.4596	−0.150%	$232K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4588	−0.326%	$301K	$859K	50x	as long as short
Hyperliquid ONDO	+0.0327%	1h	0.4607	+0.091%	$40.9M	$27.0M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4593	−0.217%	$3.3M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4595	−0.174%	$37K	$436K	25x	as long as short
01 Exchange ONDOUSD	+0.0464%	1h	0.4607	+0.089%	$379	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4601	−0.047%	$549K	—	100x	as long as short
Lighter ONDO	+0.1024%	1h	0.4611	+0.182%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4603	−0.004%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6609%	1h	0.4599	−0.085%	$260K	$129K	5x	as long as short