Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit+0.115%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now +0.115%, 7d avg +0.083%

Together, before fees+0.150%+$15 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: ApeX Omni is 0.032% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4334	0.0100	pay 0.0050% / 4h	2h 55m	$67.5M	$125.0M	50x
Short	ApeX Omni ONDOUSDT	0.4339	0.0100	get 0.0013% / 1h	55m 17s	$134K	$354K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.083%: $3.19
Slippage, 4 orders: −$14.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$32.39
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; ApeX Omni: live order book, 57 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 Bybit live order book, 4 min ago	1.16 bp	8.8 bp −$9	14.1 bp −$141	50.7 bp −$5,067	doesn't fit
Sell ApeX Omni live order book, 57 min ago	3.40 bp	9.0 bp −$9	21.6 bp −$216	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	−0.0241%	1h	0.4335	+0.019%	$2.6M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4335	+0.028%	$248K	$133K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4338	+0.092%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	−0.048%	$7K	—	150x	as long as short
01 Exchange ONDOUSD	+0.0032%	1h	0.4333	−0.035%	$357	$2K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.399%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4341	+0.164%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4336	+0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4331	−0.058%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4333	−0.018%	$36.4M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4339	+0.126%	$62.4M	$234.2M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4334	long leg	$67.5M	$125.0M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4338	+0.092%	$17.1M	$72.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4346	+0.288%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4333	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4332	−0.046%	$12.0M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.023%	$42.7M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4332	−0.046%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	+0.046%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4333	−0.023%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	+0.171%	$175K	$982K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4341	+0.156%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4336	+0.038%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4340	+0.138%	$407K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4339	+0.115%	$134K	$354K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	−0.044%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4333	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4339	+0.115%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4342	+0.185%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4339	+0.115%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.024%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4337	+0.076%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4339	+0.104%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0116%	4h	0.4340	+0.138%	$776K	$2.6M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4338	+0.092%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4342	+0.175%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.115%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4332	−0.038%	$482K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4332	−0.047%	$2K	—	20x	as long as short