Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.053%

Price spread now: 01 Exchange against BingX+0.148%58s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and 01 Exchange is 0.148% dearer against BingX than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4337	0.0100	pay 0.0050% / 4h	1h 48m	—	$23.7M	—
Short	01 Exchange ONDOUSD	0.4343	0.0208	get 0.0026% / 1h	48m 38s	$357	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.148%Rate

Funding earned: $22.68
Price spread: +0.148% → 0.000%: $14.76
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $20.44
Costs to cover: 0.170%
Break-even: 0.7 days

Slippage unknown: BingX: live order book, 5 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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, 5 min ago	2.31 bp	7.3 bp −$7	9.4 bp −$94	32.7 bp −$3,269	212.9 bp −$106.5K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0146%	1h	0.4338	+0.027%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4337	+0.005%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4339	+0.039%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.326%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.127%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.069%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.138%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	+0.075%	$63.0M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4336	−0.023%	$67.6M	$126.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4336	−0.023%	$17.3M	$73.7M	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	0.4348	+0.247%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.045%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4337	0.000%	$12.4M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	0.000%	$43.1M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	+0.115%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4338	+0.023%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4337	long leg	—	$23.7M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	+0.164%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4337	−0.005%	$642K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.225%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.138%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.231%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4341	+0.101%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	+0.069%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4341	+0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4340	+0.069%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4350	+0.300%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4340	+0.069%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4340	+0.068%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4337	+0.008%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4342	+0.115%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSDshort	+0.0208%	1h	0.4343	+0.148%	$357	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4347	+0.231%	$215K	$729K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4349	+0.284%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4345	+0.184%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0418%	1h	0.4345	+0.181%	$36.7M	$27.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4341	+0.092%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4339	+0.038%	$488K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4340	+0.064%	$2K	—	20x	as long as short