Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.143%

Price spread now: Bitget against Coinbase International−0.219%7-day average −0.227% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.821%−$82 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now −0.219%, 7d avg −0.227%

Together, before fees−0.828%−$83 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.227%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4576	0.0304	pay 0.0038% / 1h	10m 02s	$298K	$842K	50x
Short	Bitget ONDOUSDT	0.4566	0.0100	get 0.0050% / 4h	10m 02s	$25.8M	$40.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.219%Rate

Funding earned: −$42.84
Price spread: −0.219% → −0.227%: $0.83
Slippage, 4 orders: −$38.94
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.95
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bitget: live order book, 4 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, 3 min ago	8.77 bp	25.9 bp −$26	46.2 bp −$462	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.19 bp	8.6 bp −$9	16.4 bp −$164	46.0 bp −$4,604	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	0.4565	−0.240%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.175%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4568	−0.175%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4566	−0.214%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4565	−0.240%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4567	−0.202%	$439K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4571	−0.111%	$40.4M	$26.5M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4568	−0.175%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4566	−0.217%	$68.3M	$226.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4566	−0.219%	$74.0M	$120.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4565	−0.240%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4576	−0.007%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4571	−0.118%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4564	−0.262%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4566	−0.219%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4567	−0.197%	$14.1M	$11.0M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4566	−0.219%	$25.8M	$40.3M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4567	−0.197%	—	$741K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4568	−0.164%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4563	−0.288%	$803K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	−0.284%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4562	−0.304%	$421K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4563	−0.284%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4573	−0.061%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4565	−0.240%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4566	−0.219%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	0.000%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4566	−0.219%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4567	−0.189%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4565	−0.233%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4569	−0.153%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4569	−0.162%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0288%	1h	0.4573	−0.063%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0304%	1h	0.4576	long leg	$298K	$842K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4565	−0.240%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4565	−0.240%	$545K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4575	−0.031%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4565	−0.239%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2825%	1h	0.4561	−0.321%	$258K	$132K	5x	as long as short