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: SunX against Bybit0.000%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1491.488% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now 0.000%, 7d avg +0.027%

Together, before fees−0.048%−$5 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: SunX is 0.027% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4389	0.0100	pay 0.0050% / 4h	1h 39m	$69.3M	$122.6M	50x
Short	SunX ONDO-USDT	0.4389	0.0100	get 0.0050% / 4h	1h 39m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.027%: −$2.71
Slippage, 4 orders: −$129.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$151.49
Costs to cover: 1.488%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; SunX: 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	1.14 bp	7.3 bp −$7	13.9 bp −$139	48.9 bp −$4,894	doesn't fit
Sell SunX live order book, 5 min ago	46.62 bp	66.6 bp −$67	doesn't fit	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	0.4393	+0.089%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4388	−0.024%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.078%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4387	−0.051%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4388	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4394	+0.103%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4391	+0.039%	$63.7M	$225.8M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4389	long leg	$69.3M	$122.6M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	+0.023%	$16.9M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4395	+0.141%	$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	0.4390	+0.033%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4388	−0.023%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4388	−0.023%	$47.1M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4388	−0.023%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4390	+0.023%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4389	0.000%	—	$21.9M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4395	+0.129%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4396	+0.164%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	+0.467%	$407K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	+0.365%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.112%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4389	0.000%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4389	0.000%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4397	+0.182%	$129K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4389	0.000%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4393	+0.085%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4388	−0.016%	$396K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	+0.060%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0125%	4h	0.4393	+0.091%	$709K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0134%	1h	0.4393	+0.091%	$38.1M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0177%	1h	0.4390	+0.014%	$189K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4410	+0.481%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.114%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4400	+0.251%	$282K	$702K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4393	+0.091%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	+0.023%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4389	−0.008%	$484K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4396	+0.162%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4394	+0.124%	$2K	—	20x	as long as short