Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against BingX−0.047%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.047% cheaper against BingX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4399	0.0100	pay 0.0050% / 4h	1h 54m	—	$22.0M	—
Short	gTrade (Gains Network) ONDO/USD	0.4397	L +0.0003% / S −0.0008%	get 0.0001% / 1h	54m 18s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.047%Rate

Funding earned: −$19.23
Price spread: −0.047% → 0.000%: −$4.68
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$43.91
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 14 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 14 min ago	3.41 bp	10.2 bp −$10	17.4 bp −$174	47.7 bp −$4,770	369.5 bp −$184.7K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ONDO on 38 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
ApeX Omni ONDOUSDT	−0.0069%	1h	0.4382	−0.386%	$135K	$353K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	+0.006%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0008%	1h	0.4397	−0.047%	$6K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.842%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	+0.003%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4400	+0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4399	−0.006%	$376K	$832K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4401	+0.045%	$670K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4399	+0.008%	$63.9M	$225.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4400	+0.023%	$69.7M	$121.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4402	+0.068%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.177%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4398	−0.019%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4397	−0.045%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4399	0.000%	$46.6M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4398	−0.023%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4401	+0.045%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4399	long leg	—	$22.0M	—
Variational Omni ONDO	+0.0100%	4h	0.4418	+0.427%	$712K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	−0.255%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.210%	$405K	$978K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4401	+0.041%	$78K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4402	+0.068%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4408	+0.205%	$130K	$481K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4398	−0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4401	+0.056%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4404	+0.107%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4401	+0.041%	$38.5M	$24.0M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0186%	1h	0.4399	−0.005%	$191K	$983K	15x	as long as short
Phemex ONDOUSDT	+0.0195%	4h	0.4397	−0.045%	$4.2M	$7.5M	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4396	−0.066%	$35K	$225K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.523%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4402	+0.073%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	+0.068%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4396	−0.068%	$485K	—	100x	as long as short
Lighter ONDO	+0.0592%	1h	0.4407	+0.182%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4398	−0.024%	$2K	—	20x	as long as short