Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Bybit+0.113%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.113% dearer against Bybit than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4576	0.0100	pay 0.0050% / 4h	3h 59m	$74.1M	$120.6M	50x
Short	gTrade (Gains Network) ONDO/USD	0.4581	L +0.0003% / S −0.0008%	get 0.0001% / 1h	59m 43s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.113%Rate

Funding earned: −$19.23
Price spread: +0.113% → 0.000%: $11.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$28.93
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 9 min ago; gTrade (Gains Network): 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, 9 min ago	1.09 bp	8.2 bp −$8	12.6 bp −$126	43.3 bp −$4,328	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0796%	1h	0.4580	+0.078%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.175%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4582	+0.131%	$33K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0008%	1h	0.4581	+0.113%	$6K	—	150x
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4579	+0.066%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4582	+0.142%	$440K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4583	+0.149%	$40.5M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4582	+0.125%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4578	+0.037%	$68.5M	$226.1M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4576	long leg	$74.1M	$120.6M	50x

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	0.4576	0.000%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4586	+0.223%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4577	+0.024%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4577	+0.022%	$12.0M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4578	+0.044%	$49.1M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4579	+0.066%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4578	+0.044%	$25.9M	$40.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4579	+0.066%	—	$742K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4580	+0.096%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4574	−0.046%	$815K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4582	+0.127%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	−0.087%	$422K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4583	+0.153%	$175K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4584	+0.175%	$70K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4581	+0.109%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4581	+0.109%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4593	+0.372%	$135K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4581	+0.109%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4578	+0.051%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4577	+0.024%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4583	+0.164%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4577	+0.020%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4583	+0.146%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4581	+0.109%	$297K	$844K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4577	+0.022%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4581	+0.099%	$547K	—	100x	as long as short
Lighter ONDO	+0.0640%	1h	0.4585	+0.197%	$1.5M	$2.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4581	+0.105%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2307%	1h	0.4581	+0.103%	$259K	$132K	5x	as long as short