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: Phemex against Binance+0.019%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$13 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +0.019%, 7d avg −0.010%

Together, before fees−0.205%−$20 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: Phemex is 0.029% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4322	0.0100	pay 0.0050% / 4h	1h 02m	$62.5M	$233.5M	75x
Short	Phemex ONDOUSDT	0.4323	0.0100	get 0.0050% / 4h	1h 02m	$4.2M	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.010%: $2.95
Slippage, 4 orders: −$26.96
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.01
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Phemex: live order book, 2 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, 11 min ago	1.15 bp	8.4 bp −$8	14.2 bp −$142	46.5 bp −$4,652	doesn't fit
Sell Phemex live order book, 2 min ago	6.93 bp	15.1 bp −$15	19.4 bp −$194	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
Kraken Futures PF_ONDOUSD	−0.0146%	1h	0.4321	−0.035%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4320	−0.053%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.688%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4325	+0.077%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4322	−0.004%	$347K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4323	+0.019%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4322	long leg	$62.5M	$233.5M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4321	−0.027%	$67.7M	$122.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.019%	$17.2M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4328	+0.124%	$71K	$81K	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	0.4322	−0.008%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4321	−0.027%	$12.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4322	−0.004%	$43.3M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4322	−0.004%	$11.9M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4322	−0.004%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4322	−0.004%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4323	+0.013%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4331	+0.199%	$735K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	+0.119%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4327	+0.113%	$402K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4326	+0.089%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4322	−0.004%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4320	−0.050%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4323	+0.019%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4323	+0.019%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.181%	$128K	$395K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4323	+0.019%	$4.2M	$8.7M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4321	−0.037%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	−0.037%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4324	+0.043%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	−0.004%	$18K	$351K	25x	as long as short
dYdX ONDO-USD	+0.0229%	1h	0.4324	+0.034%	$243K	$156K	5x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4323	+0.026%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	+0.135%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0272%	1h	0.4326	+0.094%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4326	+0.091%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4323	+0.019%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4320	−0.055%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4321	−0.016%	$2K	—	20x	as long as short