Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against ApeX Omni−0.583%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now −0.583%, 7d avg −0.084%

Together, before fees−0.252%−$25 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: Gate is 0.499% cheaper against ApeX Omni than usual: you would sell low and buy high, −$50 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ONDOUSDT	0.4459	0.0100	pay 0.0013% / 1h	43m 19s	$165K	$356K	50x
Short	Gate ONDO_USDT	0.4433	0.0100	get 0.0050% / 4h	2h 43m	$11.6M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.583%Rate

Funding earned: $0
Price spread: −0.583% → −0.084%: −$49.94
Slippage, 4 orders: −$28.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$103.34
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 24 min ago; Gate: live order book, 5 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, 24 min ago	3.27 bp	10.7 bp −$11	26.2 bp −$262	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.24 bp	14.5 bp −$14	24.6 bp −$246	44.7 bp −$4,466	76.6 bp −$38.3K

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	−0.0361%	1h	0.4429	−0.677%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4440	−0.424%	$251K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4430	−0.653%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.444%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4427	−0.718%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4434	−0.572%	$402K	$823K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4433	−0.587%	$682K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4428	−0.695%	$65.1M	$228.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4428	−0.695%	$71.2M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4425	−0.763%	$17.0M	$76.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4450	−0.193%	$73K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4431	−0.621%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4433	−0.583%	$11.6M	$16.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4432	−0.606%	$44.5M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4433	−0.583%	$13.4M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4428	−0.695%	$25.1M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4434	−0.561%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4448	−0.256%	$199K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4446	−0.296%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4458	−0.022%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4437	−0.493%	$409K	$962K	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4459	long leg	$165K	$356K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4435	−0.545%	$77K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4433	−0.583%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4431	−0.628%	$461	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4441	−0.404%	$130K	$500K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4444	−0.343%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4428	−0.686%	$400K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4431	−0.627%	$38K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0185% / S +0.0187%	1h	0.4430	−0.645%	$511K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0202%	1h	0.4429	−0.673%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0253%	1h	0.4437	−0.500%	$39.2M	$25.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4453	−0.135%	$289K	$797K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4436	−0.518%	$365	$2K	10x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4452	−0.157%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	+0.269%	$3.2M	$3.0M	75x	as long as short
Phemex ONDOUSDT	+0.0664%	4h	0.4431	−0.628%	$4.2M	$7.3M	50x	as long as short
Lighter ONDO	+0.0728%	1h	0.4438	−0.480%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4433	−0.577%	$2K	—	20x	as long as short