Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni+0.341%53s7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as 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−$440.441% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.341% dearer against ApeX Omni than usual: you sell high and buy low, +$34 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	ApeX Omni ONDOUSDT	0.4405	0.0100	pay 0.0013% / 1h	56m 25s	$135K	$354K	50x
Short	BingX ONDO-USDT	0.4420	0.0100	get 0.0050% / 4h	1h 56m	—	$22.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.341%Rate

Funding earned: $0
Price spread: +0.341% → 0.000%: $34.05
Slippage, 4 orders: −$24.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$10
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 6 min ago; BingX: 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 ApeX Omni live order book, 6 min ago	4.53 bp	12.7 bp −$13	26.2 bp −$262	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.41 bp	10.2 bp −$10	16.9 bp −$169	44.3 bp −$4,427	356.6 bp −$178.3K

ONDO on 38 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
dYdX ONDO-USD	0.0000%	1h	0.4406	+0.014%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4414	+0.195%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.700%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4385	−0.461%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4385	−0.454%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	+0.358%	$378K	$832K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4406	+0.028%	$664K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4420	+0.330%	$64.2M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4419	+0.318%	$69.9M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4419	+0.318%	$17.1M	$72.4M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.313%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4417	+0.279%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4410	+0.114%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4419	+0.318%	$46.8M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4417	+0.272%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4419	+0.318%	$25.1M	$39.3M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4420	+0.341%	—	$22.0M	—
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.244%	$766K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4415	+0.228%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4403	−0.038%	$406K	$978K	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4405	long leg	$135K	$354K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4420	+0.347%	$79K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4386	−0.431%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4386	−0.431%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4394	−0.250%	$129K	$486K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4417	+0.270%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4419	+0.328%	$398K	$786K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4390	−0.352%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0105%	1h	0.4390	−0.336%	$191K	$989K	15x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4420	+0.352%	$38.7M	$24.2M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0206%	1h	0.4385	−0.454%	$23K	$349K	25x	as long as short
Phemex ONDOUSDT	+0.0241%	4h	0.4387	−0.409%	$4.2M	$7.5M	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	+0.304%	$35K	$214K	10x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4422	+0.388%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.386%	$284K	$706K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0549% / S −0.0190%	1h	0.4383	−0.489%	$483K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4419	+0.322%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4419	+0.311%	$2K	—	20x	as long as short