Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against BingX+0.008%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.008%, 7d avg −0.035%

Together, before fees+0.003%+ Points / potential airdropExtended: Active · farm board$0 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: Extended is 0.043% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4539	0.0100	pay 0.0050% / 4h	23m 17s	—	$22.3M	—
Short	Extended ONDO-USD	0.4539	0.0104	get 0.0013% / 1h	23m 17s	$407K	$844K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0.84
Price spread: +0.008% → −0.035%: $4.34
Slippage, 4 orders: −$10.03
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.85
Costs to cover: 0.250%
Break-even: 172.4 days

Slippage from BingX: live order book, 15 min ago; Extended: live order book, 55 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, 15 min ago	1.10 bp	6.9 bp −$7	15.9 bp −$159	41.3 bp −$4,127	275.0 bp −$137.5K
Sell Extended live order book, 55 min ago	2.17 bp	5.1 bp −$5	16.1 bp −$161	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	−0.0803%	1h	0.4543	+0.078%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.639%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4540	+0.022%	$35K	$437K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4538	−0.018%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4538	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4536	−0.055%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4542	+0.064%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4544	+0.119%	$68.0M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4543	+0.088%	$73.6M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4543	+0.088%	$17.6M	$80.4M	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	0.4527	−0.258%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4537	−0.048%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4537	−0.044%	$11.9M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4538	−0.022%	$48.5M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4539	0.000%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4540	+0.022%	$25.6M	$41.3M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4539	long leg	—	$22.3M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4537	−0.033%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	+0.154%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4541	+0.038%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.273%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4539	0.000%	$172K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4540	+0.031%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4537	−0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4541	+0.044%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4547	+0.176%	$133K	$506K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4545	+0.132%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4539	−0.005%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4539	+0.008%	$407K	$844K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4543	+0.087%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0130%	1h	0.4541	+0.046%	$40.2M	$26.4M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	+0.203%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4541	+0.044%	$296K	$843K	50x	as long as short
01 Exchange ONDOUSD	+0.0328%	1h	0.4540	+0.022%	$374	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4542	+0.066%	$3.3M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4539	−0.009%	$542K	—	100x	as long as short
Lighter ONDO	+0.0752%	1h	0.4553	+0.313%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4538	−0.026%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3845%	1h	0.4535	−0.087%	$257K	$132K	5x	as long as short