Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against SunX+0.002%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1591.588% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now +0.002%, 7d avg +0.031%

Together, before fees+0.096%+$10 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 0.029% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4514	0.0100	pay 0.0050% / 4h	2h 53m	—	$1.4M	20x
Short	Binance ONDOUSDT	0.4514	0.0100	get 0.0050% / 4h	2h 53m	$66.5M	$220.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. 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 SunXbpFee BinancebpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → +0.031%: −$2.89
Slippage, 4 orders: −$140.81
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$161.7
Costs to cover: 1.588%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Binance: live order book, 5 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 SunX live order book, 11 min ago	47.78 bp	71.5 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.10 bp	7.5 bp −$8	15.0 bp −$150	53.7 bp −$5,369	396.6 bp −$198.3K

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	−0.1126%	1h	0.4515	+0.030%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4516	+0.044%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4514	−0.008%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4501	−0.281%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.171%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4513	−0.022%	$25K	$8K	10x	as long as short
Variational Omni ONDO	+0.0099%	4h	0.4527	+0.299%	$801K	$2.0M	—	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4512	−0.044%	$430K	$671K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4519	+0.107%	$40.7M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4515	+0.031%	$754K	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDTshort	+0.0100%	4h	0.4514	+0.002%	$66.5M	$220.2M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4514	0.000%	$72.8M	$117.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4513	−0.022%	$17.7M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4500	−0.306%	$73K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4515	+0.024%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4512	−0.044%	$11.8M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4514	0.000%	$47.8M	$45.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4513	−0.022%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4510	−0.089%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4511	−0.066%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4515	+0.027%	$195K	$975K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4529	+0.328%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4531	+0.366%	$420K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4526	+0.266%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4516	+0.047%	$76K	$1.0M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4514	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4514	0.000%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	+0.310%	$125K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4513	−0.022%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4512	−0.034%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4513	−0.021%	$402K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4514	−0.007%	$36K	—	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4520	+0.133%	$304K	$839K	50x	as long as short
Lighter ONDO	+0.0336%	1h	0.4522	+0.186%	$1.4M	$2.2M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	−0.044%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0584%	1h	0.4530	+0.361%	$373	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4514	+0.006%	$561K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4515	+0.023%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9957%	1h	0.4504	−0.223%	$255K	$117K	5x	as long as short