Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.156%46s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.156% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.156% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 5.4 days of funding at the current rate (+$3 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ONDO/USD	0.4571	L +0.0003% / S −0.0008%	pay 0.0000% / 1h	8m 38s	$6K	—	150x
Short	BingX ONDO-USDC	0.4564	0.0100	get 0.0050% / 4h	1h 08m	—	$741K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.156%Rate

Funding earned: $20.28
Price spread: −0.156% → 0.000%: −$15.6
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$15.32
Costs to cover: 0.200%
Break-even: 12.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 35 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 35 min ago	2.20 bp	54.5 bp −$55	92.8 bp −$928	689.1 bp −$68.9K	1037.5 bp −$518.7K

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0352%	1h	0.4573	+0.036%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0008%	1h	0.4571	long leg	$6K	—	150x
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4570	−0.025%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4569	−0.041%	$432K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4571	−0.003%	$730K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4568	−0.064%	$67.8M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4567	−0.090%	$73.9M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4566	−0.112%	$17.8M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.451%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4561	−0.229%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4563	−0.178%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4566	−0.112%	$49.3M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4568	−0.068%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4564	−0.156%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4564	−0.156%	—	$741K	—
Variational Omni ONDO	+0.0100%	4h	0.4560	−0.246%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	−0.188%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	−0.063%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	−0.134%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4574	+0.067%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	−0.112%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4574	+0.063%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	+0.107%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	+0.019%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	−0.118%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4563	−0.182%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	+0.083%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.321%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0143%	1h	0.4574	+0.067%	$231K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.068%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.522%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4575	+0.085%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0379%	1h	0.4574	+0.053%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4571	−0.014%	$376	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4573	+0.041%	$31K	$431K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4570	−0.025%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4578	+0.144%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4573	+0.038%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5445%	1h	0.4570	−0.031%	$259K	$129K	5x	as long as short