Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −0.122%

Price spread now: Binance against Coinbase International−0.079%7-day average −0.210% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.810%−$81 on $10k

Price spread, last 4 days (all we have)+0.243%+$24 · spread now −0.079%, 7d avg −0.210%

Together, before fees−0.567%−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.131% dearer against Coinbase International than usual: you sell high and buy low (spread −0.079% now, against its 7-day average of −0.210%): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4433	0.0360	pay 0.0045% / 1h	15m 50s	$281K	$728K	50x
Short	Binance ONDOUSDT	0.4430	0.0100	get 0.0050% / 4h	1h 15m	$64.3M	$225.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.079%Rate

Funding earned: −$54.6
Price spread: −0.079% → −0.210%: $13.1
Slippage, 4 orders: −$45.01
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$106.51
Costs to cover: 0.650%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 47 min ago; Binance: live order book, 13 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 Coinbase International live order book, 47 min ago	7.95 bp	30.3 bp −$30	80.4 bp −$804	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.13 bp	8.8 bp −$9	15.2 bp −$152	45.2 bp −$4,520	337.8 bp −$168.9K

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	+0.0001%	1h	0.4430	−0.065%	$251K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4430	−0.056%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.045%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4426	−0.147%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4429	−0.090%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4432	−0.011%	$374K	$837K	10x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4430	−0.079%	$64.3M	$225.4M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4428	−0.113%	$70.2M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4425	−0.180%	$17.1M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4435	+0.038%	$73K	$88K	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	0.4430	−0.075%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4427	−0.135%	$11.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4429	−0.090%	$47.2M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4428	−0.113%	$13.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4426	−0.158%	$25.3M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4428	−0.113%	—	$761K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4430	−0.076%	$718K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4438	+0.119%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4439	+0.127%	$415K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4443	+0.226%	$137K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4434	+0.016%	$68K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4432	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4431	−0.045%	$461	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4441	+0.180%	$131K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4428	−0.113%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4429	−0.089%	$400K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4431	−0.038%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4432	−0.031%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0150%	1h	0.4428	−0.108%	$38.4M	$24.2M	10x	as long as short
Aster ONDOUSDT	+0.0187%	4h	0.4429	−0.101%	$712K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0205%	1h	0.4426	−0.165%	$192K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4440	+0.160%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4435	+0.045%	$3.1M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4435	+0.034%	$365	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0360%	1h	0.4433	long leg	$281K	$728K	50x
Deribit ONDO_USDC-PERPETUAL	+0.0427%	1h	0.4432	−0.023%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4430	−0.063%	$489K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4435	+0.038%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4433	−0.007%	$2K	—	20x	as long as short