Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: KuCoin against BingX−0.197%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1431.431% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.197%, 7d avg +0.030%

Together, before fees+0.245%+$25 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: KuCoin is 0.228% cheaper against BingX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4557	0.0100	pay 0.0050% / 4h	41m 31s	—	$741K	—
Short	KuCoin ONDOUSDTM	0.4548	0.0100	get 0.0050% / 4h	41m 31s	$14.0M	$11.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.197%Rate

Funding earned: $0
Price spread: −0.197% → +0.030%: −$22.76
Slippage, 4 orders: −$121.09
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$165.86
Costs to cover: 1.431%
Break-even: never at this rate

Slippage from BingX: live order book, 62 min ago; KuCoin: 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 BingX live order book, 62 min ago	2.20 bp	49.5 bp −$50	99.3 bp −$993	504.8 bp −$50.5K	874.0 bp −$437.0K
Sell KuCoin live order book, 2 min ago	2.19 bp	20.3 bp −$20	33.6 bp −$336	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	0.4544	−0.290%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.241%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4544	−0.285%	$35K	$436K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4546	−0.237%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4543	−0.307%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	0.000%	$431K	$707K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4557	−0.005%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4559	+0.048%	$68.1M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4560	+0.066%	$73.9M	$123.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4559	+0.044%	$17.7M	$81.1M	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	0.4544	−0.292%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4557	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4550	−0.154%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4553	−0.088%	$49.2M	$43.3M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4548	−0.197%	$14.0M	$11.1M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4556	−0.022%	$25.8M	$41.4M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4557	long leg	—	$741K	—
Variational Omni ONDO	+0.0100%	4h	0.4573	+0.350%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4565	+0.183%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4562	+0.110%	$421K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4564	+0.154%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4551	−0.121%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4548	−0.197%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4545	−0.263%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4561	+0.088%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.241%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4552	−0.114%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4557	−0.007%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4546	−0.230%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0155%	1h	0.4546	−0.246%	$229K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4573	+0.362%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4556	−0.022%	$299K	$851K	50x	as long as short
Hyperliquid ONDO	+0.0323%	1h	0.4552	−0.116%	$40.3M	$26.9M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	+0.176%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4561	+0.088%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4546	−0.250%	$543K	—	100x	as long as short
Lighter ONDO	+0.0912%	1h	0.4561	+0.086%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4548	−0.205%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5977%	1h	0.4548	−0.189%	$257K	$131K	5x	as long as short