Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against Bybit+0.023%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 7 days−0.033%−$3 · spread now +0.023%, 7d avg −0.003%

Together, before fees−0.014%−$1 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: Gate is 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4316	0.0100	pay 0.0050% / 4h	2h 41m	$67.2M	$125.0M	50x
Short	Gate ONDO_USDT	0.4317	0.0100	get 0.0050% / 4h	2h 41m	$12.0M	$16.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.003%: $2.59
Slippage, 4 orders: −$22.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$45.82
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	1.16 bp	7.9 bp −$8	13.6 bp −$136	50.2 bp −$5,023	doesn't fit
Sell Gate live order book, 2 min ago	1.16 bp	14.4 bp −$14	29.3 bp −$293	48.8 bp −$4,881	82.5 bp −$41.3K

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	−0.0242%	1h	0.4317	+0.019%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4315	−0.021%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0029%	1h	0.4321	+0.126%	$247K	$133K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.839%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4318	+0.037%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4321	+0.111%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4316	0.000%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4319	+0.064%	$350K	$874K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4319	+0.058%	$36.2M	$25.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4319	+0.076%	$778K	$2.6M	20x	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	0.4319	+0.073%	$62.2M	$234.5M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4316	long leg	$67.2M	$125.0M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4318	+0.046%	$17.2M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4325	+0.215%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4317	+0.019%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4317	+0.023%	$12.0M	$16.3M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4318	+0.046%	$42.8M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4317	+0.023%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4317	+0.023%	$24.7M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4318	+0.046%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4318	+0.042%	$176K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	+0.295%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4335	+0.437%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4328	+0.276%	$408K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4330	+0.324%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	+0.039%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4319	+0.070%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4319	+0.070%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4328	+0.278%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4318	+0.046%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4318	+0.037%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4315	−0.020%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4319	+0.074%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4318	+0.046%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.695%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4331	+0.352%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4322	+0.139%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4315	−0.023%	$486K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4317	+0.014%	$2K	—	20x	as long as short