Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.155%

Price spread now: Bitget against Lighter−0.097%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.097%, 7d avg −0.091%

Together, before fees−0.245%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4351	0.0096	pay 0.0012% / 1h	13m 02s	$1.1M	$2.4M	10x
Short	Bitget ONDOUSDT	0.4347	0.0100	get 0.0050% / 4h	3h 13m	$24.9M	$39.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now −0.097%Rate

Funding earned: $0.84
Price spread: −0.097% → −0.091%: −$0.52
Slippage, 4 orders: −$26.73
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$38.41
Costs to cover: 0.387%
Break-even: 327.1 days

Slippage from Lighter: live order book, 4 min ago; Bitget: 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 Lighter live order book, 4 min ago	4.47 bp	4.7 bp −$5	31.4 bp −$314	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.15 bp	11.4 bp −$11	18.2 bp −$182	55.7 bp −$5,565	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	−0.0161%	1h	0.4346	−0.116%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4347	−0.101%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.983%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4351	long leg	$1.1M	$2.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4347	−0.097%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4345	−0.154%	$358K	$843K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4347	−0.085%	$62.7M	$231.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4345	−0.142%	$67.6M	$124.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4347	−0.097%	$17.1M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4348	−0.067%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4346	−0.130%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4346	−0.120%	$11.8M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4347	−0.097%	$43.1M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4347	−0.097%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4347	−0.097%	$24.9M	$39.7M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4347	−0.097%	—	$760K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4348	−0.080%	$183K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	−0.011%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4354	+0.061%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4354	+0.057%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4356	+0.110%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4346	−0.117%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4348	−0.074%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4348	−0.074%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4354	+0.064%	$128K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4349	−0.051%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4345	−0.144%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4346	−0.114%	$391K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4350	−0.019%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0147%	4h	0.4348	−0.068%	$786K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0165%	1h	0.4348	−0.080%	$37.0M	$24.9M	10x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4347	−0.101%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4343	−0.188%	$219K	$765K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4356	+0.106%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4349	−0.051%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4349	−0.051%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4346	−0.114%	$483K	—	100x	as long as short
dYdX ONDO-USD	+0.0940%	1h	0.4340	−0.250%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4346	−0.114%	$2K	—	20x	as long as short