Funding arb · Price arb /

ONDO

all ONDO markets

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: Phemex against Binance−0.026%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$13 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.026%, 7d avg −0.009%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4319	0.0100	pay 0.0050% / 4h	36m 57s	$62.6M	$233.7M	75x
Short	Phemex ONDOUSDT	0.4318	0.0100	get 0.0050% / 4h	36m 57s	$4.2M	$8.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.009%: −$1.67
Slippage, 4 orders: −$21.19
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$44.86
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Phemex: live order book, 2 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 Binance live order book, 7 min ago	1.15 bp	8.0 bp −$8	13.9 bp −$139	48.9 bp −$4,894	doesn't fit
Sell Phemex live order book, 2 min ago	3.46 bp	15.5 bp −$15	21.5 bp −$215	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	0.4315	−0.089%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4318	−0.020%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.762%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4320	+0.032%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4319	−0.003%	$346K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4321	+0.043%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4319	long leg	$62.6M	$233.7M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4315	−0.095%	$67.8M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4317	−0.049%	$17.3M	$71.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4336	+0.395%	$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	0.4320	+0.019%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4318	−0.026%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	−0.003%	$43.6M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.020%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	−0.003%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4317	−0.049%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	+0.020%	$175K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4333	+0.313%	$735K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4326	+0.166%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4329	+0.229%	$399K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4335	+0.368%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4322	+0.057%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	−0.049%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4325	+0.136%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4318	−0.026%	$489	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4327	+0.182%	$128K	$369K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4318	−0.026%	$4.2M	$8.8M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4323	+0.097%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4316	−0.065%	$353K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4320	+0.020%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4318	−0.026%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4319	+0.004%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4324	+0.113%	$214K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	+0.303%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.043%	$3.1M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0356%	1h	0.4322	+0.069%	$36.5M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4318	−0.023%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4319	+0.002%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1623%	1h	0.4321	+0.048%	$243K	$156K	5x	as long as short