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: Bitget against Bybit+0.111%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days−0.106%−$11 · spread now +0.111%, 7d avg +0.017%

Together, before fees−0.100%−$10 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: Bitget is 0.094% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4518	0.0100	pay 0.0050% / 4h	1h 54m	$73.2M	$118.1M	50x
Short	Bitget ONDOUSDT	0.4523	0.0100	get 0.0050% / 4h	1h 54m	$25.6M	$41.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.017%: $9.41
Slippage, 4 orders: −$17.31
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.9
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago	1.11 bp	9.9 bp −$10	16.3 bp −$163	52.5 bp −$5,246	doesn't fit
Sell Bitget live order book, 5 min ago	2.22 bp	10.1 bp −$10	20.4 bp −$204	67.2 bp −$6,715	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	−0.0356%	1h	0.4516	−0.051%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4522	+0.089%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4521	+0.072%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4524	+0.139%	$29K	$219K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4521	+0.066%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4526	+0.177%	$425K	$682K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4523	+0.119%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4517	−0.016%	$66.5M	$220.2M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4518	long leg	$73.2M	$118.1M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4517	−0.022%	$17.6M	$79.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4542	+0.540%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4533	+0.336%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4523	+0.111%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4516	−0.044%	$47.3M	$43.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4526	+0.177%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4523	+0.111%	$25.6M	$41.2M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4523	+0.111%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4531	+0.288%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4531	+0.290%	$793K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4510	−0.184%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4525	+0.154%	$427K	$937K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4527	+0.206%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4525	+0.155%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4521	+0.066%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4529	+0.243%	$130K	$508K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4518	0.000%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4534	+0.349%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	+0.061%	$403K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4523	+0.122%	$44K	$8K	3x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.332%	$1K	$181K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4538	+0.443%	$300K	$847K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4533	+0.332%	$3.2M	$3.1M	75x	as long as short
ApeX Omni ONDOUSDT	+0.0387%	1h	0.4526	+0.177%	$160K	$333K	50x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4537	+0.421%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0576%	1h	0.4526	+0.188%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0191%	1h	0.4521	+0.056%	$544K	—	100x	as long as short
Hyperliquid ONDO	+0.0652%	1h	0.4530	+0.274%	$40.5M	$27.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4526	+0.169%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1244%	1h	0.4534	+0.355%	$257K	$130K	5x	as long as short