Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against Bybit−0.249%110s7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.434% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.701%+$70 · spread now −0.249%, 7d avg +0.030%

Together, before fees+0.770%+ Points / potential airdropGRVT: Active · farm board+$77 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: GRVT is 0.279% cheaper against Bybit than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4393	0.0100	pay 0.0050% / 4h	1h 41m	$69.3M	$122.6M	50x
Short	GRVT ONDO_USDT_Perp	0.4382	0.0100	get 0.0050% / 4h	1h 41m	$411K	$987K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.249%Rate

Funding earned: $0
Price spread: −0.249% → +0.030%: −$27.9
Slippage, 4 orders: −$23.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$71.31
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; GRVT: live order book, 21 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	1.14 bp	7.3 bp −$7	13.9 bp −$139	48.9 bp −$4,894	doesn't fit
Sell GRVT live order book, 21 min ago	3.40 bp	19.1 bp −$19	49.2 bp −$492	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
dYdX ONDO-USD	0.0000%	1h	0.4392	−0.014%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	+0.278%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.984%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4406	+0.306%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4406	+0.296%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	+0.359%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4393	+0.007%	$63.8M	$225.8M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4393	long leg	$69.3M	$122.6M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4395	+0.046%	$16.9M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4395	+0.050%	$72K	$86K	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	0.4411	+0.404%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	+0.046%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4395	+0.046%	$47.0M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4403	+0.228%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4393	0.000%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4395	+0.046%	—	$758K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4381	−0.279%	$709K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	−0.078%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4382	−0.249%	$411K	$987K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4395	+0.046%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4410	+0.392%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4410	+0.387%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	+0.364%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4419	+0.592%	$130K	$476K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4405	+0.273%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4411	+0.413%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4396	+0.059%	$398K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4409	+0.366%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0120%	1h	0.4395	+0.043%	$38.2M	$24.4M	10x	as long as short
Aster ONDOUSDT	+0.0127%	4h	0.4398	+0.123%	$711K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0202%	1h	0.4406	+0.298%	$190K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4399	+0.130%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.296%	$3.2M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4405	+0.273%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4415	+0.499%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4408	+0.341%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	+0.265%	$486K	—	100x	as long as short
Lighter ONDO	+0.0880%	1h	0.4403	+0.221%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4409	+0.369%	$2K	—	20x	as long as short