Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Aevo+0.011%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bybit

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	Aevo ONDO-PERP	0.4517	0.0104	pay 0.0013% / 1h	9m 56s	$36K	—	3x
Short	Bybit ONDOUSDT	0.4518	0.0100	get 0.0050% / 4h	2h 09m	$73.2M	$118.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.84
Price spread: +0.011% → 0.000%: $1.11
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.73
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bybit: live order book, 9 min ago. 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 Aevo no order-book sample	—	—	—	—	—
Sell Bybit live order book, 9 min ago	1.10 bp	10.4 bp −$10	20.4 bp −$204	60.6 bp −$6,057	doesn't fit

Aevo: 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	−0.1127%	1h	0.4513	−0.106%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4516	−0.033%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4517	−0.015%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4500	−0.396%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.100%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4515	−0.055%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4516	−0.044%	$423K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4518	+0.020%	$760K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4516	−0.030%	$66.6M	$221.0M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4518	+0.011%	$73.2M	$118.2M	50x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4516	−0.033%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4495	−0.500%	$71K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4517	−0.010%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4516	−0.033%	$11.8M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4516	−0.033%	$47.3M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4514	−0.077%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4517	−0.011%	$25.6M	$41.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4517	−0.011%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4519	+0.024%	$193K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4506	−0.246%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	+0.009%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4502	−0.343%	$425K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4520	+0.055%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4517	−0.015%	$91K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4515	−0.055%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4516	−0.033%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4521	+0.077%	$129K	$520K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4517	−0.011%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4515	−0.055%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4517	−0.022%	$401K	$979K	25x	as long as short
Aevo ONDO-PERPlong	+0.0104%	1h	0.4517	long leg	$36K	—	3x
Hyperliquid ONDO	+0.0281%	1h	0.4521	+0.080%	$40.4M	$27.9M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.476%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4507	−0.232%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4519	+0.033%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4524	+0.146%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0191%	1h	0.4516	−0.041%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4516	−0.038%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9332%	1h	0.4516	−0.033%	$256K	$129K	5x	as long as short