Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against HTX−0.227%7-day average −0.124% · you buy dearer than you sell

to open and close $10k−$57fees + slippage, both legs, in and out

costs, in % of the position0.570%what the two incomes have to cover

Long on HTX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.293%+$29 · spread now −0.227%, 7d avg −0.124%

Together, before fees+0.226%+$23 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: Binance is 0.104% cheaper against HTX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4437	0.0100	pay 0.0050% / 4h	40m 35s	$109K	$526K	50x
Short	Binance ONDOUSDT	0.4427	0.0100	get 0.0050% / 4h	40m 35s	$65.8M	$221.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against HTX. 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 HTXbpFee BinancebpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → −0.124%: −$10.36
Slippage, 4 orders: −$35.01
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$67.38
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from HTX: live order book, 12 min ago; Binance: live order book, 12 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 HTX live order book, 12 min ago	6.82 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.14 bp	9.9 bp −$10	15.0 bp −$150	46.8 bp −$4,684	398.2 bp −$199.1K

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	−0.0492%	1h	0.4429	−0.187%	$3.1M	$6.6M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4426	−0.253%	$6K	—	150x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4425	−0.262%	$6K	$9	10x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4427	−0.227%	$65.8M	$221.1M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4424	−0.293%	$69.5M	$114.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4426	−0.248%	$17.3M	$79.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4431	−0.142%	$73K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4429	−0.182%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4426	−0.248%	$11.6M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4427	−0.225%	$47.6M	$42.9M	200x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ONDOUSDTM	+0.0100%	4h	0.4425	−0.270%	$13.4M	$9.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4428	−0.203%	$25.1M	$41.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4426	−0.248%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4429	−0.174%	$236K	$940K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4433	−0.082%	$769K	$2.1M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4430	−0.147%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4427	−0.233%	$411K	$757K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4425	−0.270%	$156K	$352K	50x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4425	−0.282%	$455K	$633K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4428	−0.210%	$71K	$996K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4426	−0.248%	$24K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4430	−0.158%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4426	−0.248%	$460	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4437	long leg	$109K	$526K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4425	−0.270%	$4.9M	$5.8M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4427	−0.232%	$386K	$944K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4429	−0.170%	$35K	—	3x	as long as short
Phoenix ONDO	+0.0127%	1h	0.4436	−0.018%	$28K	$251K	10x	as long as short
Injective ONDO/USDC PERP	+0.0131%	1h	0.4416	−0.473%	$994	$82K	5.5x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4430	−0.158%	$743K	$1.8M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0202%	1h	0.4428	−0.203%	$20K	$344K	25x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4431	−0.133%	$365	$1K	10x	as long as short
Hyperliquid ONDO	+0.0330%	1h	0.4429	−0.171%	$39.2M	$26.3M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4433	−0.090%	$3.2M	$3.1M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0536%	1h	0.4438	+0.023%	$330K	$752K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0601% / S −0.0200%	1h	0.4426	−0.242%	$544K	—	100x	as long as short
Lighter ONDO	+0.0640%	1h	0.4435	−0.054%	$1.2M	$1.6M	10x	as long as short
Reya ONDORUSDPERP	+0.1134%	1h	0.4424	−0.285%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.1073%	1h	0.4426	−0.258%	$250K	$116K	5x	as long as short