Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit+1.194%79s7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.377% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 3 days (all we have)−1.131%−$113 · spread now +1.194%, 7d avg +0.076%

Together, before fees−1.060%−$106 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: ApeX Omni is 1.118% dearer against Bybit than usual: you sell high and buy low, +$112 on $10k if it goes back to its 7-day average of +0.076%. The two prices were read 79 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	Bybit ONDOUSDT	0.4521	0.0100	pay 0.0050% / 4h	3h 02m	$72.5M	$119.6M	50x
Short	ApeX Omni ONDOUSDT	0.4575	0.0100	get 0.0013% / 1h	2m 04s	$171K	$332K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +1.194%Rate

Funding earned: $0
Price spread: +1.194% → +0.076%: $111.81
Slippage, 4 orders: −$16.67
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $74.13
Costs to cover: 0.377%
Break-even: from the start

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 5 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 Bybit live order book, 2 min ago	1.10 bp	8.1 bp −$8	14.4 bp −$144	61.6 bp −$6,160	doesn't fit
Sell ApeX Omni live order book, 5 min ago	3.27 bp	10.0 bp −$10	27.0 bp −$270	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	−0.0883%	1h	0.4524	+0.060%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	+0.293%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	+0.111%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	+0.154%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+1.040%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4526	+0.111%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4528	+0.155%	$425K	$718K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4529	+0.185%	$713K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4524	+0.066%	$67.8M	$222.4M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4521	long leg	$72.5M	$119.6M	50x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4521	0.000%	$17.3M	$76.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	+0.504%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	+0.095%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4521	0.000%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4522	+0.022%	$48.0M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4524	+0.066%	$14.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4521	0.000%	$25.6M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4521	0.000%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−0.020%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+1.209%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+1.661%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+1.283%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4575	+1.194%	$171K	$332K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	+0.186%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	+0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	+0.022%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	+0.243%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	+0.111%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	+0.170%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4524	+0.071%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4527	+0.144%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+1.429%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	+0.170%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	+0.199%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.420%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0371%	1h	0.4525	+0.097%	$40.2M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4529	+0.181%	$540K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4532	+0.254%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	+0.161%	$2K	—	20x	as long as short