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: BingX against SunX−0.044%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$244as in the Price arb table

costs, in and out, $10k−$2402.405% of the position

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.044%, 7d avg −0.004%

Together, before fees+0.049%+$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: BingX is 0.040% cheaper against SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4544	0.0100	pay 0.0050% / 4h	30m 46s	—	$1.4M	20x
Short	BingX ONDO-USDC	0.4542	0.0100	get 0.0050% / 4h	30m 46s	—	$740K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.004%: −$3.96
Slippage, 4 orders: −$222.47
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$244.43
Costs to cover: 2.405%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; BingX: live order book, 73 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, 4 min ago	47.32 bp	67.7 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 73 min ago	2.20 bp	54.5 bp −$55	92.8 bp −$928	689.1 bp −$68.9K	1037.5 bp −$518.7K

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	−0.0803%	1h	0.4542	−0.037%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.528%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4543	−0.016%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4543	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4540	−0.077%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4545	+0.022%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4542	−0.041%	$68.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4542	−0.044%	$73.6M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4541	−0.066%	$17.6M	$80.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4548	+0.095%	$74K	$89K	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	0.4540	−0.098%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4540	−0.088%	$11.9M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4541	−0.066%	$48.7M	$43.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4543	−0.022%	$14.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4542	−0.044%	$25.7M	$41.4M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4542	−0.044%	—	$740K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4545	+0.013%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4542	−0.045%	$779K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4548	+0.078%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4547	+0.066%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4548	+0.088%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4547	+0.057%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4544	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4544	0.000%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4554	+0.220%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4545	+0.022%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4540	−0.083%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4540	−0.083%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4545	+0.013%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4544	0.000%	$35K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0198%	1h	0.4545	+0.031%	$40.2M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	+0.086%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4541	−0.066%	$297K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4544	0.000%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4546	+0.037%	$374	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4543	−0.027%	$542K	—	100x	as long as short
Lighter ONDO	+0.0808%	1h	0.4551	+0.145%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4543	−0.029%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4158%	1h	0.4543	−0.022%	$257K	$132K	5x	as long as short