Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.341%82s7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as 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−$540.539% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.417%+$42 · spread now +0.341%, 7d avg +0.033%

Together, before fees+0.415%+$41 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: ApeX Omni is 0.308% dearer against KuCoin than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 82 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	KuCoin ONDOUSDTM	0.4401	0.0100	pay 0.0050% / 4h	1h 58m	$13.1M	$10.8M	50x
Short	ApeX Omni ONDOUSDT	0.4416	0.0100	get 0.0013% / 1h	58m 02s	$136K	$354K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.341%Rate

Funding earned: $0
Price spread: +0.341% → +0.033%: $30.83
Slippage, 4 orders: −$31.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$23.04
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; ApeX Omni: live order book, 4 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 KuCoin live order book, 6 min ago	1.13 bp	15.4 bp −$15	39.5 bp −$395	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	4.53 bp	11.0 bp −$11	26.5 bp −$265	doesn't fit	doesn't fit

ONDO on 38 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
dYdX ONDO-USD	0.0000%	1h	0.4403	+0.051%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4399	−0.045%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.795%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	−0.046%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4400	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4401	+0.011%	$378K	$833K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4396	−0.106%	$38.5M	$24.2M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4400	−0.017%	$663K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4391	−0.232%	$63.8M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4389	−0.273%	$69.5M	$122.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4388	−0.295%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4420	+0.427%	$72K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4402	+0.018%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.182%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4395	−0.136%	$46.5M	$40.9M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4401	long leg	$13.1M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4391	−0.227%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4392	−0.204%	—	$759K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.335%	$766K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4415	+0.319%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4408	+0.156%	$407K	$978K	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4416	+0.341%	$136K	$354K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4405	+0.091%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4402	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4401	0.000%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4411	+0.227%	$130K	$486K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4404	+0.058%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4388	−0.296%	$396K	$788K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4404	+0.057%	$38K	$13K	3x	as long as short
Phemex ONDOUSDT	+0.0151%	4h	0.4398	−0.068%	$4.2M	$7.5M	50x	as long as short
Backpack ONDO_USDC_PERP	+0.0240%	1h	0.4397	−0.082%	$196K	$987K	15x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	+0.395%	$35K	$214K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.477%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4406	+0.118%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	+0.023%	$23K	$349K	25x	as long as short
Lighter ONDO	+0.0480%	1h	0.4408	+0.168%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4398	−0.060%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4401	0.000%	$2K	—	20x	as long as short