Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.117%

Price spread now: Coinbase International against BingX+0.388%7-day average +0.233% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1641.639% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.763%+$76 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.388%, 7d avg +0.233%

Together, before fees+0.552%+$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 0.155% dearer against BingX than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.233%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4387	0.0100	pay 0.0050% / 4h	23m 25s	—	$763K	—
Short	Coinbase International ONDO-PERP-INTX	0.4404	0.0328	get 0.0041% / 1h	23m 25s	$272K	$730K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.388%Rate

Funding earned: $47.88
Price spread: +0.388% → +0.233%: $15.47
Slippage, 4 orders: −$143.89
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$100.53
Costs to cover: 1.639%
Break-even: 21.7 days

Slippage from BingX: live order book, 21 min ago; Coinbase International: live order book, 35 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, 21 min ago	3.42 bp	59.0 bp −$59	113.7 bp −$1,137	687.0 bp −$68.7K	1015.3 bp −$507.7K
Sell Coinbase International live order book, 35 min ago	12.60 bp	17.6 bp −$18	59.7 bp −$597	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4385	−0.049%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4386	−0.016%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.126%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4392	+0.112%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4387	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4386	−0.011%	$363K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4389	+0.050%	$37.5M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4387	−0.002%	$63.4M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4385	−0.046%	$67.8M	$126.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4388	+0.023%	$17.1M	$73.2M	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	0.4398	+0.251%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4385	−0.052%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4386	−0.023%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4385	−0.046%	$44.3M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4388	+0.023%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4388	+0.023%	$25.1M	$39.8M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4387	long leg	—	$763K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4394	+0.160%	$188K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.075%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4392	+0.123%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4393	+0.135%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	+0.114%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4387	+0.011%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4386	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	+0.046%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4399	+0.274%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	+0.137%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4386	−0.020%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4388	+0.014%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4389	+0.054%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4385	−0.039%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0232%	4h	0.4389	+0.046%	$738K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0328%	1h	0.4404	+0.388%	$272K	$730K	50x
dYdX ONDO-USD	+0.0328%	1h	0.4388	+0.032%	$248K	$129K	5x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4392	+0.114%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4392	+0.105%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4388	+0.023%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4385	−0.047%	$521K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4386	−0.019%	$2K	—	20x	as long as short