Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −1.617%

Price spread now: BingX against dYdX−0.067%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$682as in the Funding arb table

Net, price: spread back to 7d avg − costs−$415as in the Price arb table

costs, in and out, $10k−$4094.086% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.731%−$273 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.067%, 7d avg +0.002%

Together, before fees−2.657%−$266 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.069% cheaper against dYdX than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of +0.002%). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −2.731%, 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	0.4614	0	get 0.0000% / 1h	13m 03s	$261K	$131K	5x
Short	BingX ONDO-USDT	0.4611	0.0100	get 0.0050% / 4h	3h 13m	—	$22.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $21
Price spread: −0.067% → +0.002%: −$6.89
Slippage, 4 orders: −$388.56
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$394.44
Costs to cover: 4.086%
Break-even: 138.5 days

Slippage from dYdX: live order book, 61 min ago; BingX: live order book, 10 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, 61 min ago	91.11 bp	96.1 bp −$96	96.1 bp −$961	175.9 bp −$17.6K	1108.0 bp −$554.0K
Sell BingX live order book, 10 min ago	1.08 bp	7.0 bp −$7	16.4 bp −$164	42.7 bp −$4,265	330.5 bp −$165.2K

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	−0.0866%	1h	0.4613	−0.017%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USDlong	0.0000%	1h	0.4614	long leg	$261K	$131K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4611	−0.065%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.999%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4613	−0.023%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4617	+0.063%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4614	−0.002%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4608	−0.122%	$69.0M	$221.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4607	−0.153%	$74.2M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4609	−0.110%	$17.6M	$78.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4593	−0.448%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4613	−0.017%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4611	−0.067%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4609	−0.110%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4608	−0.132%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4609	−0.110%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4611	−0.067%	—	$22.1M	—
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.136%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4615	+0.027%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	−0.037%	$426K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4616	+0.042%	$172K	$336K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4620	+0.137%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4614	−0.002%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4614	−0.002%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4621	+0.150%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4613	−0.023%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4619	+0.106%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4609	−0.111%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4616	+0.045%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0120%	1h	0.4613	−0.030%	$232K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4614	−0.002%	$34K	$342K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.561%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4618	+0.076%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4632	+0.388%	$300K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4618	+0.085%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0365%	1h	0.4614	+0.007%	$41.0M	$25.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4611	−0.058%	$551K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4622	+0.180%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4613	−0.018%	$2K	—	20x	as long as short