Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex−0.161%77s7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.591% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.161%, 7d avg +0.031%

Together, before fees+0.379%+$38 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: ApeX Omni is 0.192% cheaper against Phemex than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.031%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4356	0.0100	pay 0.0050% / 4h	3h 16m	$4.2M	$8.0M	50x
Short	ApeX Omni ONDOUSDT	0.4349	0.0100	get 0.0013% / 1h	16m 01s	$134K	$354K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → +0.031%: −$19.19
Slippage, 4 orders: −$37.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$78.31
Costs to cover: 0.591%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; ApeX Omni: live order book, 36 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 Phemex live order book, 3 min ago	6.89 bp	20.0 bp −$20	26.1 bp −$261	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	3.40 bp	9.0 bp −$9	21.6 bp −$216	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	−0.0161%	1h	0.4352	−0.093%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4353	−0.072%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.867%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4358	+0.041%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4353	−0.069%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4356	+0.006%	$359K	$840K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4354	−0.056%	$62.8M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4351	−0.115%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4351	−0.115%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4345	−0.259%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4354	−0.041%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4352	−0.092%	$11.8M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4351	−0.115%	$43.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4350	−0.138%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4351	−0.115%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4353	−0.069%	—	$760K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4353	−0.076%	$183K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	−0.121%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4357	+0.017%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	−0.069%	$403K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4349	−0.161%	$134K	$354K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4355	−0.030%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4356	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4355	−0.023%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4363	+0.161%	$129K	$423K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4356	long leg	$4.2M	$8.0M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4356	−0.008%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4349	−0.154%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	−0.011%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0151%	4h	0.4355	−0.014%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4355	−0.016%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0177%	1h	0.4355	−0.025%	$37.3M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4359	+0.069%	$246K	$724K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4353	−0.060%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.023%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4355	−0.023%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4351	−0.106%	$484K	—	100x	as long as short
dYdX ONDO-USD	+0.0713%	1h	0.4352	−0.101%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4354	−0.041%	$2K	—	20x	as long as short