Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h 0.000%

Price spread now: BingX against Paradex−0.240%48s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.240% cheaper against Paradex than usual: you would sell low and buy high, −$24 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Paradex ONDO-USD-PERP	0.4564	0.0102	pay 0.0102% / 8h	1h 35m	$7K	$9	10x
Short	BingX ONDO-USDC	0.4553	0.0100	get 0.0050% / 4h	1h 35m	—	$743K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Paradex. 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 ParadexbpFee BingXbpOrdersPrice spread, now −0.240%Rate

Funding earned: −$0.36
Price spread: −0.240% → 0.000%: −$24.04
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$38.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; BingX: live order book, 8 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 Paradex no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	2.20 bp	54.5 bp −$55	92.8 bp −$928	689.1 bp −$68.9K	1037.5 bp −$518.7K

Paradex: 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	−0.0353%	1h	0.4558	−0.134%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4563	−0.014%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4562	−0.043%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4566	+0.044%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4557	−0.155%	$739K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4553	−0.232%	$67.0M	$225.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4553	−0.240%	$74.2M	$120.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4553	−0.240%	$17.8M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.193%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4565	+0.021%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4551	−0.284%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4552	−0.262%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4553	−0.240%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4553	−0.240%	$25.7M	$41.7M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4553	−0.240%	—	$743K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4560	−0.078%	$221K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−0.394%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4609	+0.979%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4598	+0.746%	$431K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4565	+0.012%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4561	−0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4561	−0.065%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4572	+0.176%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4559	−0.109%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4564	long leg	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4552	−0.268%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4566	+0.044%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−0.234%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4601	+0.811%	$894	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4564	+0.001%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.228%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.220%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4568	+0.088%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4568	+0.086%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0492%	1h	0.4564	−0.008%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0592%	1h	0.4568	+0.099%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0191%	1h	0.4562	−0.053%	$549K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4564	+0.004%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1399%	1h	0.4566	+0.051%	$258K	$130K	5x	as long as short