Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0764%/8h= +83.7% APRpaid last 24h +0.160%

Price spread now: Lighter against Binance+0.276%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 7 days−0.181%−$18 · spread now +0.276%, 7d avg +0.079%

Together, before fees+0.083%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Lighter is 0.197% dearer against Binance than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.079%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.264% in total (about 13.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4392	0.0100	pay 0.0050% / 4h	1h 07m	$63.8M	$225.8M	75x
Short	Lighter ONDO	0.4405	0.0864	get 0.0108% / 1h	7m 29s	$1.4M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.276%Rate

Funding earned: $160.44
Price spread: +0.276% → +0.079%: $19.73
Slippage, 4 orders: −$26.13
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $144.04
Costs to cover: 0.361%
Break-even: 0.7 days

Slippage from Binance: live order book, 6 min ago; Lighter: live order book, 4 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 Binance live order book, 6 min ago	1.13 bp	7.6 bp −$8	14.5 bp −$145	57.6 bp −$5,764	doesn't fit
Sell Lighter live order book, 4 min ago	4.41 bp	11.5 bp −$12	37.4 bp −$374	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
dYdX ONDO-USD	+0.0001%	1h	0.4396	+0.086%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	+0.299%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.998%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4401	+0.192%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4405	+0.287%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	+0.003%	$371K	$837K	10x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4392	long leg	$63.8M	$225.8M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4389	−0.077%	$69.6M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	−0.054%	$17.1M	$71.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	+0.187%	$73K	$85K	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	0.4394	+0.030%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	+0.060%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4395	+0.060%	$47.6M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4397	+0.105%	$13.0M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4391	−0.031%	$25.1M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4395	+0.060%	—	$21.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4410	+0.393%	$714K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4403	+0.251%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.219%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4400	+0.174%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4392	−0.009%	$63K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4403	+0.242%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4406	+0.310%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4408	+0.356%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4401	+0.196%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4397	+0.094%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4395	+0.049%	$398K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	+0.356%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0136%	1h	0.4400	+0.175%	$38.1M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0181%	1h	0.4402	+0.212%	$191K	$979K	15x	as long as short
Aster ONDOUSDT	+0.0188%	4h	0.4397	+0.116%	$734K	$2.3M	20x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4404	+0.267%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4399	+0.151%	$3.1M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4397	+0.101%	$362	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.674%	$281K	$719K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4407	+0.333%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	+0.277%	$486K	—	100x	as long as short
Lighter ONDOshort	+0.0864%	1h	0.4405	+0.276%	$1.4M	$2.1M	10x
Reya ONDORUSDPERP	+0.1150%	1h	0.4391	−0.034%	$2K	—	20x	as long as short