Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Polymarket Perps+0.099%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)−0.380%−$38 · spread now +0.099%, 7d avg −0.055%

Together, before fees−0.433%−$43 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: Binance is 0.153% dearer against Polymarket Perps than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4568	0.0100	pay 0.0013% / 1h	12m 52s	$68K	$1.2M	10x
Short	Binance ONDOUSDT	0.4573	0.0100	get 0.0050% / 4h	1h 12m	$67.6M	$226.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → −0.055%: $15.3
Slippage, 4 orders: −$11.11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$13.8
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, just now; Binance: live order book, 16 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 Polymarket Perps live order book, just now	2.62 bp	6.6 bp −$7	7.1 bp −$71	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	1.10 bp	8.6 bp −$9	13.8 bp −$138	45.9 bp −$4,594	368.7 bp −$184.3K

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	−0.0352%	1h	0.4567	−0.034%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4565	−0.064%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4566	−0.048%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4565	−0.081%	$432K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4570	+0.049%	$729K	$2.1M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4573	+0.099%	$67.6M	$226.7M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4571	+0.061%	$74.1M	$122.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4571	+0.061%	$17.8M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.436%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	−0.055%	—	—	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	0.4565	−0.070%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4573	+0.105%	$49.2M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4571	+0.061%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4570	+0.039%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4574	+0.127%	—	$741K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4598	+0.651%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.772%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4600	+0.692%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.849%	$165K	$317K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4568	long leg	$68K	$1.2M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4566	−0.048%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4567	−0.026%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.193%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4567	−0.026%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	−0.047%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4570	+0.036%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4570	+0.039%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.385%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0148%	1h	0.4569	+0.026%	$230K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.004%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.587%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	−0.070%	$3.2M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0407%	1h	0.4568	−0.004%	$31K	$432K	25x	as long as short
Hyperliquid ONDO	+0.0408%	1h	0.4571	+0.059%	$40.6M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4572	+0.085%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4565	−0.067%	$544K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4576	+0.180%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4565	−0.062%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4885%	1h	0.4566	−0.045%	$258K	$129K	5x	as long as short