Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex+0.196%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$520.521% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +0.196%, 7d avg +0.021%

Together, before fees−0.053%−$5 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: ApeX Omni is 0.175% dearer against Phemex than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4595	0.0100	pay 0.0050% / 4h	3h 06m	$4.5M	$7.1M	50x
Short	ApeX Omni ONDOUSDT	0.4604	0.0100	get 0.0013% / 1h	6m 59s	$172K	$332K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → +0.021%: $17.46
Slippage, 4 orders: −$30.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$34.68
Costs to cover: 0.521%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 65 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 Phemex live order book, 2 min ago	5.44 bp	20.9 bp −$21	25.2 bp −$252	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 65 min ago	2.19 bp	7.4 bp −$7	21.1 bp −$211	doesn't fit	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	−0.0869%	1h	0.4594	−0.020%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4594	−0.017%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4591	−0.087%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.588%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4591	−0.087%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4597	+0.049%	$431K	$705K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4589	−0.140%	$68.7M	$221.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4586	−0.196%	$73.9M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4587	−0.174%	$17.6M	$77.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4593	−0.046%	$73K	$91K	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	0.4593	−0.043%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4587	−0.174%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4591	−0.087%	$49.2M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4589	−0.131%	$14.2M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4591	−0.087%	$26.1M	$38.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4588	−0.152%	—	$22.0M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4599	+0.081%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.184%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.136%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4604	+0.196%	$172K	$332K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4597	+0.044%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4594	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	−0.022%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4600	+0.109%	$135K	$492K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4595	long leg	$4.5M	$7.1M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	+0.069%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4589	−0.123%	$417K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4596	+0.022%	$40K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0105%	4h	0.4593	−0.044%	$724K	$2.1M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0114%	1h	0.4595	0.000%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4601	+0.120%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4597	+0.037%	$378	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4591	−0.087%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4598	+0.065%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0377%	1h	0.4599	+0.082%	$40.9M	$24.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4594	−0.022%	$34K	$340K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4591	−0.087%	$548K	—	100x	as long as short
Lighter ONDO	+0.0680%	1h	0.4604	+0.189%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4595	−0.006%	$2K	—	20x	as long as short