Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Backpack against BingX−0.014%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1321.316% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4317	0.0100	pay 0.0050% / 4h	1h 34m	—	$773K	—
Short	Backpack ONDO_USDC_PERP	0.4316	0.0100	get 0.0013% / 1h	34m 04s	$171K	$996K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → 0.000%: −$1.39
Slippage, 4 orders: −$111.6
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$132.99
Costs to cover: 1.316%
Break-even: never at this rate

Slippage from BingX: live order book, 40 min ago; Backpack: live order book, 15 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 BingX live order book, 40 min ago	2.30 bp	47.9 bp −$48	122.2 bp −$1,222	625.2 bp −$62.5K	937.3 bp −$468.7K
Sell Backpack live order book, 15 min ago	1.84 bp	13.0 bp −$13	doesn't fit	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	−0.0147%	1h	0.4313	−0.103%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	+0.0002%	1h	0.4314	−0.066%	$242K	$136K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4311	−0.134%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.814%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4318	+0.016%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4312	−0.116%	$346K	$895K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	+0.023%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4317	−0.007%	$62.6M	$236.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4315	−0.046%	$67.4M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4316	−0.023%	$17.1M	$72.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4318	+0.016%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4311	−0.142%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4314	−0.069%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4315	−0.046%	$42.7M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4312	−0.116%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4315	−0.046%	$24.6M	$39.1M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4317	long leg	—	$773K	—
Backpack ONDO_USDC_PERPshort	+0.0100%	1h	0.4316	−0.014%	$171K	$996K	15x
Variational Omni ONDO	+0.0100%	4h	0.4310	−0.168%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.086%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	−0.016%	$406K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4321	+0.093%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4313	−0.086%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4311	−0.139%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4312	−0.116%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4313	−0.093%	$448	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4322	+0.116%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4313	−0.093%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	−0.113%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4311	−0.139%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4315	−0.046%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0123%	1h	0.4319	+0.044%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4313	−0.097%	$355	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4313	−0.093%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.232%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	+0.183%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4314	−0.069%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	−0.088%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4310	−0.156%	$2K	—	20x	as long as short