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 −0.001%

Price spread now: Orderly against Bybit0.000%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4319	0.0100	pay 0.0050% / 4h	1h 30m	$67.5M	$124.7M	50x
Short	Orderly PERP_ONDO_USDC	0.4319	0.0100	get 0.0050% / 4h	1h 30m	$23K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$17
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 9 min ago; Orderly: 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, 9 min ago	1.16 bp	8.7 bp −$9	14.1 bp −$141	49.1 bp −$4,909	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0147%	1h	0.4313	−0.135%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4313	−0.140%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0005%	1h	0.4314	−0.110%	$242K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.765%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4318	−0.028%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4314	−0.116%	$346K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4321	+0.046%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4320	+0.034%	$62.5M	$236.1M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4319	long leg	$67.5M	$124.7M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4321	+0.046%	$17.1M	$72.6M	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	0.4306	−0.299%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4314	−0.116%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4317	−0.046%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	0.000%	$42.8M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4315	−0.093%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4317	−0.046%	$24.7M	$39.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4319	0.000%	—	$23.4M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	−0.088%	$171K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.145%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.065%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	−0.068%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	−0.046%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	−0.032%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4319	0.000%	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4315	−0.093%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4315	−0.093%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4325	+0.139%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4314	−0.116%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4315	−0.099%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4314	−0.117%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4316	−0.069%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0107%	1h	0.4318	−0.032%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4317	−0.046%	$355	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4315	−0.093%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.185%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4316	−0.067%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	−0.069%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	−0.150%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4319	−0.006%	$2K	—	20x	as long as short