Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against BingX−0.023%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1351.351% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.023%, 7d avg −0.024%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4379	0.0100	pay 0.0050% / 4h	43m 41s	—	$762K	—
Short	Bybit ONDOUSDT	0.4378	0.0100	get 0.0050% / 4h	43m 41s	$69.2M	$124.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → −0.024%: $0.09
Slippage, 4 orders: −$114.09
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$135.01
Costs to cover: 1.351%
Break-even: never at this rate

Slippage from BingX: live order book, 75 min ago; Bybit: 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 BingX live order book, 75 min ago	2.27 bp	59.0 bp −$59	107.3 bp −$1,073	573.5 bp −$57.3K	960.2 bp −$480.1K
Sell Bybit live order book, 5 min ago	1.15 bp	9.7 bp −$10	18.1 bp −$181	64.9 bp −$6,486	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4382	+0.065%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4379	+0.001%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.316%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4381	+0.046%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4384	+0.114%	$371K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4382	+0.080%	$37.6M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4381	+0.046%	$63.1M	$229.1M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4378	−0.023%	$69.2M	$124.0M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4379	0.000%	$16.8M	$72.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4369	−0.228%	$72K	$84K	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	0.4376	−0.074%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4377	−0.046%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4380	+0.023%	$46.0M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4379	0.000%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4378	−0.023%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4379	long leg	—	$762K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4383	+0.091%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.121%	$709K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	−0.228%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4355	−0.539%	$402K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4370	−0.206%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4383	+0.091%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4381	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4381	+0.046%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4390	+0.251%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4381	+0.046%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	−0.040%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4377	−0.037%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	+0.053%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0192%	1h	0.4384	+0.114%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0216%	4h	0.4384	+0.114%	$737K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4377	−0.046%	$360	$2K	10x	as long as short
dYdX ONDO-USD	+0.0271%	1h	0.4377	−0.035%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.343%	$276K	$719K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4376	−0.069%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4377	−0.034%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4382	+0.069%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4381	+0.045%	$520K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4384	+0.111%	$2K	—	20x	as long as short