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: Bitget against OKX−0.070%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days+0.055%+$6 · spread now −0.070%, 7d avg +0.010%

Together, before fees+0.037%+$4 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: Bitget is 0.080% cheaper against OKX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4306	0.0100	pay 0.0050% / 4h	2h 40m	$17.1M	$72.9M	50x
Short	Bitget ONDOUSDT	0.4303	0.0100	get 0.0050% / 4h	2h 40m	$24.6M	$40.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.010%: −$7.96
Slippage, 4 orders: −$18.84
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.8
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bitget: 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 OKX live order book, 4 min ago	1.16 bp	8.3 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.31 bp	11.0 bp −$11	16.8 bp −$168	48.2 bp −$4,818	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	−0.0243%	1h	0.4301	−0.123%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4304	−0.046%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4300	−0.144%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0026%	1h	0.4300	−0.131%	$246K	$133K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.085%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4297	−0.200%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4305	−0.014%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4302	−0.093%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4297	−0.203%	$350K	$876K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4304	−0.058%	$36.0M	$26.1M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4304	−0.042%	$775K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4303	−0.070%	$61.9M	$234.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4303	−0.070%	$66.9M	$125.6M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4306	long leg	$17.1M	$72.9M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4298	−0.179%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4297	−0.201%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4301	−0.116%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4303	−0.070%	$42.3M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4299	−0.163%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4303	−0.070%	$24.6M	$40.0M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4303	−0.070%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4302	−0.088%	$176K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	+0.019%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.352%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4328	+0.509%	$408K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	+0.372%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4299	−0.170%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4303	−0.070%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4303	−0.070%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4312	+0.139%	$127K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4302	−0.093%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4299	−0.162%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4302	−0.100%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4304	−0.045%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.929%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4323	+0.402%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4307	+0.023%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4298	−0.181%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4298	−0.184%	$2K	—	20x	as long as short