Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.002%

Price spread now: BingX against Deribit+0.023%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.023% dearer against Deribit than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4395	0.0205	pay 0.0026% / 1h	5m 40s	$23K	$349K	25x
Short	BingX ONDO-USDT	0.4396	0.0100	get 0.0050% / 4h	2h 05m	—	$22.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$22.05
Price spread: +0.023% → 0.000%: $2.28
Slippage, 4 orders: −$24.62
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$61.39
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Deribit: live order book, 63 min ago; BingX: live order book, 3 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 Deribit live order book, 63 min ago	4.35 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	3.41 bp	10.2 bp −$10	16.9 bp −$169	44.3 bp −$4,427	356.6 bp −$178.3K

ONDO on 38 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	−0.0363%	1h	0.4394	−0.020%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4393	−0.043%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4391	−0.091%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.936%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4395	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	−0.057%	$379K	$840K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4397	+0.037%	$669K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4397	+0.046%	$63.8M	$228.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4398	+0.068%	$69.7M	$124.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4397	+0.046%	$17.0M	$74.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.148%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.052%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.046%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4398	+0.068%	$46.5M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4396	+0.023%	$13.1M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4397	+0.046%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4396	+0.023%	—	$22.2M	—
Variational Omni ONDO	+0.0100%	4h	0.4393	−0.052%	$761K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4383	−0.278%	$4K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4386	−0.214%	$404K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.387%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	−0.018%	$90K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4394	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4397	+0.046%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4403	+0.182%	$129K	$497K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4398	+0.059%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4395	+0.010%	$396K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.057%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0168%	1h	0.4395	+0.005%	$196K	$995K	15x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0205%	1h	0.4395	long leg	$23K	$349K	25x
Hyperliquid ONDO	+0.0231%	1h	0.4400	+0.111%	$38.6M	$24.1M	10x	as long as short
Phemex ONDOUSDT	+0.0247%	4h	0.4396	+0.023%	$4.2M	$7.5M	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.614%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4391	−0.098%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4396	+0.025%	$362	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0549% / S −0.0190%	1h	0.4390	−0.119%	$484K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4404	+0.205%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4393	−0.035%	$2K	—	20x	as long as short