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: KuCoin against Bybit−0.044%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.044%, 7d avg +0.044%

Together, before fees+0.144%+$14 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: KuCoin is 0.088% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4569	0.0100	pay 0.0050% / 4h	46m 53s	$74.1M	$122.8M	50x
Short	KuCoin ONDOUSDTM	0.4567	0.0100	get 0.0050% / 4h	46m 53s	$13.8M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → +0.044%: −$8.78
Slippage, 4 orders: −$33.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$65.74
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: 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	1.09 bp	8.3 bp −$8	13.9 bp −$139	47.6 bp −$4,756	doesn't fit
Sell KuCoin live order book, 2 min ago	1.09 bp	20.5 bp −$21	40.4 bp −$404	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	−0.0799%	1h	0.4564	−0.104%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.022%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4566	−0.062%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4567	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4572	+0.055%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4568	−0.025%	$721K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4570	+0.029%	$68.4M	$227.4M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4569	long leg	$74.1M	$122.8M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4565	−0.088%	$17.8M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4566	−0.072%	$75K	$89K	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	0.4569	−0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4563	−0.131%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4570	+0.022%	$49.1M	$43.2M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4567	−0.044%	$13.8M	$11.0M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4567	−0.044%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4569	0.000%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.392%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4575	+0.121%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4575	+0.123%	$433K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.416%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4570	+0.024%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4569	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4566	−0.066%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.175%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4567	−0.044%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4570	+0.018%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4567	−0.051%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4568	−0.011%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4568	−0.022%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0190%	1h	0.4567	−0.055%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.208%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.657%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4566	−0.066%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0349%	1h	0.4570	+0.011%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0472%	1h	0.4572	+0.057%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4567	−0.053%	$545K	—	100x	as long as short
Lighter ONDO	+0.1000%	1h	0.4574	+0.118%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4567	−0.036%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6990%	1h	0.4570	+0.015%	$259K	$129K	5x	as long as short