Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Gate against Bybit+0.046%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.046%, 7d avg −0.002%

Together, before fees−0.047%−$5 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: Gate is 0.049% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4328	0.0100	pay 0.0050% / 4h	1h 57m	$67.9M	$116.9M	50x
Short	Gate ONDO_USDT	0.4330	0.0100	get 0.0050% / 4h	1h 57m	$13.8M	$13.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.002%: $4.86
Slippage, 4 orders: −$21.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.26
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: 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, 5 min ago	1.16 bp	6.9 bp −$7	12.7 bp −$127	45.2 bp −$4,524	doesn't fit
Sell Gate live order book, 5 min ago	2.31 bp	12.9 bp −$13	27.9 bp −$279	44.3 bp −$4,432	75.0 bp −$37.5K

ONDO on 39 exchanges

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	−0.0324%	1h	0.4331	+0.058%	$2.6M	$7.2M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4332	+0.092%	$21K	$368K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4331	+0.058%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.545%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4337	+0.210%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4330	+0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4331	+0.081%	$338K	$821K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4334	+0.139%	$772K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4332	+0.084%	$63.2M	$222.4M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4328	long leg	$67.9M	$116.9M	50x

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4330	+0.046%	$17.3M	$67.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4329	+0.021%	$71K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4334	+0.143%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4330	+0.046%	$13.8M	$13.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.069%	$46.2M	$39.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4331	+0.069%	$13.1M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4332	+0.092%	$25.2M	$33.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4331	+0.069%	—	$783K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4336	+0.180%	$180K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.081%	$799K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4329	+0.032%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4337	+0.202%	$404K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4336	+0.185%	$134K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4333	+0.109%	$60K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4331	+0.069%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4332	+0.092%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4339	+0.254%	$106K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4330	+0.046%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4332	+0.086%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4330	+0.048%	$355K	$779K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4333	+0.115%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0192%	1h	0.4332	+0.090%	$357	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4334	+0.129%	$35K	$207K	10x	as long as short
Hyperliquid ONDO	+0.0268%	1h	0.4336	+0.189%	$36.6M	$26.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+0.578%	$214K	$619K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4335	+0.162%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0203%	1h	0.4331	+0.068%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4330	+0.049%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4243%	1h	0.4336	+0.185%	$248K	$159K	5x	as long as short