Funding arb · Price arb /

GLW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Bybit−0.049%7-day average −0.040% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 4 days (all we have)+0.212%+$21 · spread now −0.049%, 7d avg −0.040%

Together, before fees+0.450%+ Points / potential airdropOndo Perps: Active · farm board+$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GLWUSDT	161.67	0	get 0.0000% / 8h	7h 53m	$936K	$193K	25x
Short	Ondo Perps GLW-USD.P	161.59	0.0050	get 0.0006% / 1h	53m 03s	$301K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. 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 BybitbpFee Ondo PerpsbpOrdersPrice spread, now −0.049%Rate

Funding earned: $10.58
Price spread: −0.049% → −0.040%: −$0.99
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$6.4
Costs to cover: 0.160%
Break-even: 11.2 days

Slippage unknown: Bybit: live order book, 17 min ago; Ondo Perps: no order-book sample. 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 Bybit live order book, 17 min ago	4.96 bp	35.9 bp −$36	180.0 bp −$1,800	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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.

GLW on 17 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
Aster GLWUSDT	0.0000%	8h	161.82	+0.091%	$41K	$1K	20x	as long as short
Bybit GLWUSDTlong	0.0000%	8h	161.67	long leg	$936K	$193K	25x
Gate GLW_USDT	0.0000%	8h	161.49	−0.111%	$2.2M	$4.2M	50x	as long as short
SunX GLW-USDT	0.0000%	8h	161.61	−0.037%	$999	$1.9M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	161.75	+0.049%	$17K	$16K	20x	as long as short
Vest GLW-USD-PERP	+0.0046%	1h	161.70	+0.019%	—	—	10x	as long as short
Ondo Perps GLW-USD.Pshort	+0.0050%	1h	161.59	−0.049%	$301K	$109K	10x
QFEX GLW-USD	+0.0052%	1h	161.64	−0.019%	$1.1M	$2.3M	10x	as long as short
Paragon para:GLW	+0.0060%	1h	161.51	−0.099%	$321K	$30K	10x	as long as short
KuCoin GLWUSDTM	+0.0100%	8h	161.65	−0.012%	$325K	$1.0M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	161.72	+0.031%	$2K	$2K	10x	as long as short
GRVT GLW_USDT_Perp	+0.0209%	8h	161.51	−0.099%	$102	$172K	10x	as long as short
Bitget GLWUSDT	+0.0227%	8h	161.59	−0.049%	$2.2M	$817K	20x	as long as short
OKX GLW-USDT-SWAP	+0.0254%	8h	161.66	−0.006%	$2.3M	$4.4M	20x	as long as short
BloFin GLW-USDT	+0.0582%	8h	161.69	+0.012%	$150K	$36K	20x	as long as short
Binance GLWUSDT	+0.0582%	8h	161.73	+0.038%	$11.1M	$21.2M	20x	as long as short
Extended GLW-USD	+0.0584%	1h	161.68	+0.009%	$2K	$2K	10x	as long as short