Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −0.054%

Price spread now: Bybit against 01 Exchange−0.169%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Bybit

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—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.169% cheaper against 01 Exchange than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4437	0.0360	pay 0.0045% / 1h	16m 53s	$365	$2K	10x
Short	Bybit ONDOUSDT	0.4430	0.0100	get 0.0050% / 4h	1h 16m	$70.2M	$122.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$54.6
Price spread: −0.169% → 0.000%: −$16.9
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$89.5
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.13 bp	8.6 bp −$9	13.9 bp −$139	51.0 bp −$5,096	doesn't fit

01 Exchange: 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
dYdX ONDO-USD	+0.0001%	1h	0.4430	−0.166%	$251K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4433	−0.092%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.941%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4433	−0.110%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4433	−0.101%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4437	0.000%	$375K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4435	−0.056%	$64.4M	$225.4M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4430	−0.169%	$70.2M	$122.8M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4432	−0.124%	$17.2M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4447	+0.207%	$73K	$88K	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	0.4434	−0.085%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4432	−0.124%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4434	−0.079%	$47.3M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4432	−0.124%	$13.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4433	−0.101%	$25.3M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4433	−0.101%	—	$21.8M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4441	+0.072%	$720K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4438	+0.018%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4439	+0.025%	$415K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4443	+0.124%	$137K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4437	−0.005%	$68K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4437	−0.011%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4434	−0.079%	$461	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4443	+0.124%	$131K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4434	−0.079%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4433	−0.099%	$400K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4435	−0.061%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4434	−0.084%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0154%	1h	0.4435	−0.045%	$38.5M	$24.2M	10x	as long as short
Aster ONDOUSDT	+0.0184%	4h	0.4436	−0.029%	$714K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0209%	1h	0.4435	−0.068%	$192K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4440	+0.059%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4435	−0.056%	$3.1M	$3.1M	75x	as long as short
01 Exchange ONDOUSDlong	+0.0360%	1h	0.4437	long leg	$365	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4432	−0.124%	$281K	$727K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0427%	1h	0.4434	−0.079%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4433	−0.104%	$489K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4441	+0.088%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4435	−0.064%	$2K	—	20x	as long as short