Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against ApeX Omni−0.429%63s7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.343% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.482%+$48 · spread now −0.429%, 7d avg +0.016%

Together, before fees+0.476%+$48 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: Polymarket Perps is 0.445% cheaper against ApeX Omni than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.016%. The two prices were read 63 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	ApeX Omni ONDOUSDT	0.4335	0.0100	pay 0.0013% / 1h	35m 49s	$133K	$339K	50x
Short	Polymarket Perps ONDO-USD	0.4316	0.0100	get 0.0013% / 1h	35m 49s	$60K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against ApeX Omni. 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 ApeX OmnibpFee Polymarket PerpsbpOrdersPrice spread, now −0.429%Rate

Funding earned: $0
Price spread: −0.429% → +0.016%: −$44.5
Slippage, 4 orders: −$16.3
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$78.8
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 67 min ago; Polymarket Perps: live order book, 3 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 ApeX Omni live order book, 67 min ago	3.47 bp	11.4 bp −$11	25.7 bp −$257	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.78 bp	6.8 bp −$7	7.2 bp −$72	doesn't fit	doesn't fit

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	−0.0176%	1h	0.4312	−0.524%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4314	−0.495%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.375%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4316	−0.429%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4310	−0.571%	$346K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4315	−0.472%	$772K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4315	−0.463%	$62.6M	$233.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4313	−0.507%	$67.8M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4314	−0.484%	$17.2M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4325	−0.219%	$71K	$81K	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	0.4311	−0.558%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4314	−0.484%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4314	−0.484%	$43.5M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4315	−0.461%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4313	−0.507%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4315	−0.461%	—	$776K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4317	−0.424%	$175K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	−0.585%	$677K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4326	−0.200%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4329	−0.138%	$399K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4335	long leg	$133K	$339K	50x
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4316	−0.429%	$60K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4314	−0.484%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4314	−0.484%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4313	−0.507%	$488	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4322	−0.300%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4313	−0.507%	$4.2M	$8.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4311	−0.552%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4313	−0.506%	$353K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4317	−0.426%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4315	−0.461%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4313	−0.501%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4324	−0.254%	$214K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	−0.065%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	−0.323%	$3.1M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0351%	1h	0.4320	−0.351%	$36.4M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4313	−0.498%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4312	−0.523%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1619%	1h	0.4318	−0.401%	$242K	$156K	5x	as long as short