Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Bybit−0.143%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.143% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4550	0.0100	pay 0.0050% / 4h	1h 45m	$73.8M	$117.9M	50x
Short	Ondo Perps ONDO-USD.P	0.4543	0.0100	get 0.0013% / 1h	45m 47s	$73K	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → 0.000%: −$14.29
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$30.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Ondo Perps: 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 Bybit live order book, 3 min ago	1.11 bp	9.5 bp −$10	16.9 bp −$169	50.2 bp −$5,024	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0354%	1h	0.4545	−0.108%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4535	−0.324%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4546	−0.088%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4534	−0.346%	$426K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4550	−0.011%	$763K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4550	+0.001%	$67.0M	$219.7M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4550	long leg	$73.8M	$117.9M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4551	+0.022%	$17.7M	$80.3M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4543	−0.143%	$73K	$85K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4531	−0.424%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4545	−0.110%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4551	+0.022%	$48.0M	$44.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4545	−0.110%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4547	−0.066%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4545	−0.110%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4547	−0.057%	$196K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4513	−0.811%	$795K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4515	−0.774%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4515	−0.770%	$426K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4536	−0.299%	$80K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	−0.308%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.044%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4547	−0.066%	$130K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4544	−0.132%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4551	+0.019%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4544	−0.132%	$403K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4550	+0.006%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4521	−0.637%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−1.033%	$1K	$181K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0236%	1h	0.4509	−0.901%	$159K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4550	0.000%	$301K	$853K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4529	−0.462%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4538	−0.262%	$373	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0410%	1h	0.4549	−0.022%	$19K	$364K	25x	as long as short
Hyperliquid ONDO	+0.0517%	1h	0.4551	+0.024%	$40.7M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0191%	1h	0.4535	−0.327%	$545K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4555	+0.114%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4536	−0.305%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1227%	1h	0.4545	−0.120%	$257K	$130K	5x	as long as short