Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against GRVT+0.055%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)−0.506%−$51 · spread now +0.055%, 7d avg −0.030%

Together, before fees−0.576%+ Points / potential airdropGRVT: Active · farm board−$58 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: Bybit is 0.085% dearer against GRVT than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4383	0.0100	pay 0.0050% / 4h	52m 59s	$413K	$1.0M	10x
Short	Bybit ONDOUSDT	0.4385	0.0100	get 0.0050% / 4h	52m 59s	$69.4M	$123.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → −0.030%: $8.46
Slippage, 4 orders: −$30.58
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.12
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Bybit: live order book, 1 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, 5 min ago	2.29 bp	14.2 bp −$14	51.4 bp −$514	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.14 bp	10.5 bp −$10	17.1 bp −$171	54.3 bp −$5,432	doesn't fit

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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4388	+0.120%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0023%	1h	0.4387	+0.094%	$248K	$129K	5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4387	+0.111%	$2.6M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.230%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4388	+0.123%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4390	+0.158%	$372K	$841K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4390	+0.176%	$37.8M	$24.4M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4386	+0.084%	$63.3M	$227.9M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4385	+0.055%	$69.4M	$123.7M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4386	+0.078%	$17.0M	$71.6M	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	0.4386	+0.087%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4388	+0.134%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4387	+0.100%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4386	+0.078%	$47.5M	$41.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4388	+0.123%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4386	+0.078%	$25.1M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4385	+0.055%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4388	+0.128%	$188K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	+0.164%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	+0.128%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4383	long leg	$413K	$1.0M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4365	−0.402%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4391	+0.192%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4388	+0.123%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	+0.146%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4397	+0.329%	$128K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4387	+0.100%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4388	+0.112%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4386	+0.068%	$397K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4388	+0.120%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0206%	1h	0.4390	+0.169%	$23K	$346K	25x	as long as short
Aster ONDOUSDT	+0.0217%	4h	0.4392	+0.215%	$737K	$2.3M	20x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4393	+0.235%	$362	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.260%	$276K	$719K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4393	+0.237%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4385	+0.043%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4388	+0.116%	$484K	—	100x	as long as short
Lighter ONDO	+0.0672%	1h	0.4395	+0.292%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4388	+0.128%	$2K	—	20x	as long as short