Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Bybit−0.161%7-day average +0.182% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$750.755% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.161%, 7d avg +0.182%

Together, before fees+0.189%+$19 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: HTX is 0.343% cheaper against Bybit than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of +0.182%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4342	0.0100	pay 0.0050% / 4h	1h 26m	$67.9M	$124.3M	50x
Short	HTX ONDO-USDT	0.4335	0.0100	get 0.0050% / 4h	1h 26m	$128K	$401K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → +0.182%: −$34.33
Slippage, 4 orders: −$52.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$109.79
Costs to cover: 0.755%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: live order book, 17 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, 3 min ago	1.16 bp	6.7 bp −$7	11.2 bp −$112	45.1 bp −$4,512	doesn't fit
Sell HTX live order book, 17 min ago	13.82 bp	22.1 bp −$22	doesn't fit	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	−0.0146%	1h	0.4326	−0.358%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.051%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0004%	1h	0.4335	−0.164%	$243K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.205%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4337	−0.108%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4343	+0.012%	$348K	$893K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.023%	$779K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4344	+0.046%	$62.8M	$235.0M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4342	long leg	$67.9M	$124.3M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	+0.023%	$17.3M	$72.7M	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	0.4334	−0.175%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4340	−0.038%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4333	−0.207%	$12.5M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4343	+0.023%	$43.4M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4340	−0.046%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	−0.023%	$24.9M	$38.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4342	0.000%	—	$773K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4328	−0.318%	$172K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.674%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	−0.489%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4315	−0.619%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	−0.461%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4342	+0.009%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4326	−0.368%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4329	−0.299%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4329	−0.299%	$450	$14K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4335	−0.161%	$128K	$401K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4326	−0.368%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4336	−0.127%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4336	−0.128%	$391K	$786K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4331	−0.246%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0129%	1h	0.4346	+0.092%	$36.4M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4341	−0.023%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	−0.345%	$214K	$725K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4318	−0.546%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4326	−0.368%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4330	−0.276%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4327	−0.356%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4343	+0.017%	$2K	—	20x	as long as short