Funding arb · Price arb /

TTWO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h −0.016%

Price spread now: Ondo Perps against Bybit−0.185%47s7-day average −0.164% · 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−0.172%−$17 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.185%, 7d avg −0.164%

Together, before fees−0.177%+ Points / potential airdropOndo Perps: Active · farm board−$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.021% cheaper against Bybit than usual: you would sell low and buy high (spread −0.185% now, against its 7-day average of −0.164%). If the spread goes back, that is −$2 on $10k: about 18 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TTWOUSDT	210.67	0	get 0.0000% / 8h	50m 54s	$1.8M	$210K	25x
Short	Ondo Perps TTWO-USD.P	210.28	0.0096	get 0.0012% / 1h	50m 54s	$328K	$207K	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

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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 −0.185%Rate

Funding earned: $20.16
Price spread: −0.185% → −0.164%: −$2.12
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: $2.04
Costs to cover: 0.160%
Break-even: 6.3 days

Slippage unknown: Bybit: live order book, 6 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, 6 min ago	6.17 bp	26.8 bp −$27	203.7 bp −$2,037	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.

TTWO on 13 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
Binance TTWOUSDT	0.0000%	8h	210.59	−0.039%	$2.3M	$968K	25x	as long as short
Bybit TTWOUSDTlong	0.0000%	8h	210.67	long leg	$1.8M	$210K	25x
OKX TTWO-USDT-SWAP	0.0000%	8h	210.60	−0.033%	$326K	$81K	25x	as long as short
Gate TTWO_USDT	0.0000%	8h	210.50	−0.081%	$715K	$12K	20x	as long as short
Bitget TTWOUSDT	0.0000%	8h	210.52	−0.071%	$895K	$94K	20x	as long as short
Variational Omni TTWO	0.0000%	8h	210.56	−0.054%	$81K	$56K	—	as long as short
QFEX TTWO-USD	+0.0024%	1h	210.53	−0.066%	$1.2M	$2.7M	10x	as long as short
Lighter TTWO	+0.0032%	1h	209.66	−0.479%	—	—	5x	as long as short
Extended TTWO-USD	+0.0040%	1h	209.89	−0.370%	$75K	$2K	10x	as long as short
Ondo Perps TTWO-USD.Pshort	+0.0096%	1h	210.28	−0.185%	$328K	$207K	10x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TTWOUSDTM	+0.0100%	8h	210.17	−0.237%	$94K	$1.0M	20x	as long as short
HTX TTWO-USDT	+0.0100%	8h	210.60	−0.033%	$3K	$39K	10x	as long as short
Paragon para:TTWO	+0.1463%	1h	210.47	−0.094%	$1.1M	$156K	10x	as long as short