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: Bybit against KuCoin+0.068%7-day average −0.044% · 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−$39as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.068%, 7d avg −0.044%

Together, before fees−0.135%−$14 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 0.112% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4405	0.0100	pay 0.0050% / 4h	3h 55m	$12.8M	$10.6M	50x
Short	Bybit ONDOUSDT	0.4408	0.0100	get 0.0050% / 4h	3h 55m	$68.4M	$126.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → −0.044%: $11.18
Slippage, 4 orders: −$27.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.21
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: 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, 3 min ago	1.14 bp	20.4 bp −$20	48.9 bp −$489	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.14 bp	8.7 bp −$9	17.2 bp −$172	58.0 bp −$5,801	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
Kraken Futures PF_ONDOUSD	−0.0159%	1h	0.4406	+0.033%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4395	−0.222%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4402	−0.071%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.700%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4409	+0.093%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4403	−0.045%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	−0.102%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4410	+0.114%	$63.7M	$230.8M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4408	+0.068%	$68.4M	$126.4M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4409	+0.091%	$17.2M	$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	0.4393	−0.270%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.277%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4399	−0.136%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	+0.114%	$44.3M	$41.4M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4405	long leg	$12.8M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4412	+0.159%	$25.3M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4409	+0.091%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4410	+0.125%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.347%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4394	−0.257%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.309%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	−0.204%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4402	−0.057%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4403	−0.045%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4408	+0.068%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4414	+0.204%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4408	+0.068%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4392	−0.288%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4404	−0.016%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	+0.066%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4396	−0.198%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4402	−0.064%	$762K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4385	−0.454%	$271K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0323%	1h	0.4413	+0.182%	$38.0M	$24.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.023%	$3.1M	$3.1M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	−0.168%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4400	−0.108%	$523K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0658%	1h	0.4407	+0.045%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4403	−0.052%	$2K	—	20x	as long as short