Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against BingX−0.045%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

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

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.045% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4410	0.0100	pay 0.0050% / 4h	2h 21m	—	$22.3M	—
Short	Bybit ONDOUSDT	0.4408	0.0100	get 0.0050% / 4h	2h 21m	$69.8M	$125.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → 0.000%: −$4.54
Slippage, 4 orders: −$12.75
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.29
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Bybit: 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 BingX live order book, 2 min ago	2.26 bp	7.9 bp −$8	13.8 bp −$138	37.7 bp −$3,768	330.9 bp −$165.4K
Sell Bybit live order book, 3 min ago	1.13 bp	8.8 bp −$9	16.3 bp −$163	55.0 bp −$5,501	doesn't fit

ONDO on 38 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	−0.0362%	1h	0.4412	+0.042%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4416	+0.147%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4415	+0.110%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.583%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4412	+0.045%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4418	+0.193%	$387K	$860K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4414	+0.084%	$674K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	+0.024%	$64.0M	$231.5M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4408	−0.045%	$69.8M	$125.4M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4408	−0.045%	$17.0M	$75.6M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4425	+0.331%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4416	+0.147%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4409	−0.023%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	+0.023%	$45.6M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4413	+0.068%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4408	−0.045%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4410	long leg	—	$22.3M	—
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.129%	$769K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4416	+0.146%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	+0.193%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4416	+0.136%	$136K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4420	+0.218%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4415	+0.113%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4415	+0.113%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4426	+0.363%	$130K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4418	+0.178%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4413	+0.075%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4415	+0.113%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0131%	1h	0.4411	+0.025%	$201K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0289%	1h	0.4412	+0.043%	$38.9M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.272%	$284K	$745K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.345%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4420	+0.227%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4416	+0.136%	$23K	$349K	25x	as long as short
Phemex ONDOUSDT	+0.0516%	4h	0.4411	+0.023%	$4.2M	$7.4M	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4414	+0.100%	$487K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4418	+0.188%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4419	+0.208%	$2K	—	20x	as long as short