Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0086%/8h= +9.5% APRpaid last 24h −1.382%

Price spread now: Binance against dYdX+0.247%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$554as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2762.757% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−2.780%−$278 on $10k

Price spread, last 4 days (all we have)−0.175%−$17 · spread now +0.247%, 7d avg +0.031%

Together, before fees−2.955%−$295 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.216% dearer against dYdX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 7 days funding on this pair cost −2.780%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4305	0.0014	pay 0.0002% / 1h	23m 08s	$242K	$137K	5x
Short	Binance ONDOUSDT	0.4316	0.0100	get 0.0050% / 4h	2h 23m	$62.1M	$236.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.247%Rate

Funding earned: $18.15
Price spread: +0.247% → +0.031%: $21.63
Slippage, 4 orders: −$255.71
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$235.93
Costs to cover: 2.757%
Break-even: 98.0 days

Slippage from dYdX: live order book, 26 min ago; Binance: 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 dYdX live order book, 26 min ago	24.14 bp	35.8 bp −$36	117.2 bp −$1,172	167.4 bp −$16.7K	746.2 bp −$373.1K
Sell Binance live order book, 5 min ago	1.16 bp	7.3 bp −$7	14.1 bp −$141	44.0 bp −$4,401	333.9 bp −$166.9K

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
Kraken Futures PF_ONDOUSD	−0.0242%	1h	0.4305	−0.003%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4306	+0.018%	$7K	—	150x	as long as short
dYdX ONDO-USDlong	+0.0014%	1h	0.4305	long leg	$242K	$137K	5x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.106%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4310	+0.122%	$1.1M	$2.4M	10x	as long as short
01 Exchange ONDOUSD	+0.0096%	1h	0.4306	+0.022%	$354	$2K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4307	+0.043%	$347K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4314	+0.197%	$36.0M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4310	+0.113%	$770K	$2.7M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4316	+0.247%	$62.1M	$236.7M	75x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4307	+0.043%	$67.2M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4312	+0.159%	$17.1M	$73.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4298	−0.175%	$70K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4304	−0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4306	+0.020%	$12.1M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4313	+0.183%	$42.7M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4306	+0.020%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4312	+0.159%	$24.7M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4312	+0.159%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4311	+0.143%	$177K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4294	−0.264%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4298	−0.155%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4298	−0.170%	$396K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4301	−0.096%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4308	+0.071%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4306	+0.020%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4307	+0.043%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4308	+0.066%	$448	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4313	+0.183%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4310	+0.113%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4305	−0.012%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4305	+0.004%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4309	+0.078%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4308	+0.066%	$216K	$757K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4301	−0.105%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4308	+0.066%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0447%	1h	0.4308	+0.066%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4306	+0.014%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4307	+0.043%	$2K	—	20x	as long as short