Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against GRVT+0.147%54s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.436% of the position

Long on GRVT 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 4 days (all we have)−0.220%−$22 · spread now +0.147%, 7d avg −0.001%

Together, before fees−0.232%+ Points / potential airdropGRVT: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.147% dearer against GRVT than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 54 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	GRVT ONDO_USDT_Perp	0.4332	0.0100	pay 0.0050% / 4h	1h 44m	$401K	$1.4M	10x
Short	BingX ONDO-USDT	0.4338	0.0100	get 0.0050% / 4h	1h 44m	—	$23.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GRVT. 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 GRVTbpFee BingXbpOrdersPrice spread, now +0.147%Rate

Funding earned: $0
Price spread: +0.147% → −0.001%: $14.74
Slippage, 4 orders: −$24.58
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$28.84
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; BingX: live order book, 9 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 GRVT live order book, 4 min ago	3.46 bp	11.9 bp −$12	39.9 bp −$399	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	2.31 bp	10.6 bp −$11	14.5 bp −$145	29.8 bp −$2,978	190.9 bp −$95.4K

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	−0.0146%	1h	0.4336	+0.090%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4337	+0.127%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4335	+0.074%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.456%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	+0.110%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4333	+0.020%	$348K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4338	+0.140%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4337	+0.133%	$62.9M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4335	+0.077%	$67.5M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	+0.008%	$17.3M	$73.6M	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	0.4326	−0.133%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	+0.085%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4336	+0.101%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	+0.124%	$43.1M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4333	+0.031%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4337	+0.124%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4338	+0.147%	—	$23.7M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4337	+0.133%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.182%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	+0.009%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4332	long leg	$401K	$1.4M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	+0.008%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	+0.089%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4336	+0.101%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4326	−0.130%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	+0.101%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4335	+0.077%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	+0.101%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	+0.025%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4335	+0.084%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4340	+0.181%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4337	+0.121%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	−0.084%	$214K	$727K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4331	−0.008%	$34K	$223K	10x	as long as short
Hyperliquid ONDO	+0.0324%	1h	0.4335	+0.077%	$36.3M	$27.3M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	+0.101%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4338	+0.147%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4335	+0.086%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4331	−0.009%	$2K	—	20x	as long as short