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: Bybit against SunX−0.485%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$1571.573% of the position

Long on SunX Short on Bybit

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)+0.529%+$53 · spread now −0.485%, 7d avg −0.028%

Together, before fees+0.451%+$45 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: Bybit is 0.457% cheaper against SunX than usual: you would sell low and buy high, −$46 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4332	0.0100	pay 0.0050% / 4h	2h 34m	—	$1.4M	20x
Short	Bybit ONDOUSDT	0.4311	0.0100	get 0.0050% / 4h	2h 34m	$67.2M	$125.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.485%Rate

Funding earned: $0
Price spread: −0.485% → −0.028%: −$45.7
Slippage, 4 orders: −$138.3
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$203.01
Costs to cover: 1.573%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Bybit: live order book, 9 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 SunX live order book, 9 min ago	47.42 bp	69.9 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 9 min ago	1.16 bp	8.9 bp −$9	15.5 bp −$155	47.5 bp −$4,746	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	−0.0241%	1h	0.4332	+0.003%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	+0.002%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0020%	1h	0.4328	−0.104%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.448%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0056%	1h	0.4331	−0.016%	$356	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	+0.092%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4332	0.000%	$353K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4330	−0.035%	$36.2M	$25.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	−0.323%	$776K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4317	−0.344%	$62.1M	$235.6M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDTshort	+0.0100%	4h	0.4311	−0.485%	$67.2M	$125.9M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4314	−0.416%	$17.2M	$73.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	−0.411%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4328	−0.084%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4316	−0.369%	$12.1M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4316	−0.369%	$42.9M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4322	−0.231%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4323	−0.208%	$24.8M	$40.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4314	−0.416%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	−0.042%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.281%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.370%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4321	−0.264%	$400K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4316	−0.369%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	−0.005%	$68K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4333	+0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4332	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4335	+0.069%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.185%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	0.000%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4331	−0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4322	−0.240%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	+0.102%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.323%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	−0.443%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	0.000%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4329	−0.069%	$487K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0673%	1h	0.4336	+0.092%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4332	−0.011%	$2K	—	20x	as long as short