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 +0.001%

Price spread now: Bitget against Orderly+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.047% dearer against Orderly than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ONDO_USDC	0.4299	0.0100	pay 0.0050% / 4h	23m 57s	$23K	$6K	10x
Short	Bitget ONDOUSDT	0.4301	0.0100	get 0.0050% / 4h	23m 57s	$24.6M	$36.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Orderly. 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 OrderlybpFee BitgetbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → 0.000%: $4.65
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$13.35
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	1.16 bp	10.9 bp −$11	13.4 bp −$134	43.9 bp −$4,391	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0177%	1h	0.4300	+0.017%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4299	−0.003%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.257%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4305	+0.130%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4299	0.000%	$344K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4301	+0.048%	$765K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	+0.047%	$62.5M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4300	+0.023%	$67.5M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4300	+0.023%	$17.2M	$71.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4318	+0.447%	$71K	$80K	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	0.4298	−0.034%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4299	0.000%	$12.8M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4301	+0.047%	$43.6M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4301	+0.047%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4301	+0.047%	$24.6M	$36.6M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4301	+0.047%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4301	+0.042%	$173K	$996K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4299	−0.007%	$675K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4307	+0.175%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	+0.147%	$409K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4311	+0.279%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4301	+0.037%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4299	long leg	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4301	+0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4300	+0.023%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4307	+0.186%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4300	+0.023%	$4.2M	$8.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4299	−0.006%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4298	−0.015%	$351K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4302	+0.080%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4300	+0.035%	$354	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4313	+0.326%	$213K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4310	+0.258%	$35K	$221K	10x	as long as short
Hyperliquid ONDO	+0.0338%	1h	0.4304	+0.109%	$36.3M	$27.1M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4302	+0.070%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0448%	1h	0.4303	+0.093%	$18K	$351K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0203%	1h	0.4299	−0.009%	$492K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4300	+0.014%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1643%	1h	0.4296	−0.063%	$241K	$156K	5x	as long as short