Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.470%

Price spread now: Injective against Bitget+4.459%7-day average −0.804% · you sell dearer than you buy

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

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.362%−$336 on $10k

Price spread, last 4 days (all we have)−4.937%−$494 · spread now +4.459%, 7d avg −0.804%

Together, before fees−8.298%−$830 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 5.263% dearer against Bitget than usual: you sell high and buy low (spread +4.459% now, against its 7-day average of −0.804%): +$526 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9 months. At the pace of the last 7 days (−3.362% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ONDOUSDT	0.4373	0.0100	pay 0.0050% / 4h	42m 52s	$25.0M	$39.7M	50x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	42m 52s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now +4.459%Rate

Funding earned: −$14
Price spread: +4.459% → −0.804%: $526.29
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $500.27
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 1 min ago; Injective: 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 Bitget live order book, 1 min ago	2.28 bp	10.7 bp −$11	21.0 bp −$210	73.7 bp −$7,366	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 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	0.4374	+0.020%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4371	−0.048%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+4.459%	$888	$216K	5.5x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4373	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4375	+0.040%	$370K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4376	+0.073%	$37.5M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4375	+0.038%	$63.0M	$229.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4373	0.000%	$69.2M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4372	−0.023%	$16.8M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4369	−0.091%	$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	+0.063%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4371	−0.046%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4375	+0.046%	$45.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4374	+0.023%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDTlong	+0.0100%	4h	0.4373	long leg	$25.0M	$39.7M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4373	0.000%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4374	+0.018%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	+0.016%	$709K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	−0.092%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.066%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	+0.069%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4376	+0.069%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4374	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4374	+0.023%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4381	+0.183%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4372	−0.023%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	+0.097%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4372	−0.020%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4375	+0.046%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0152%	1h	0.4376	+0.073%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0219%	4h	0.4376	+0.069%	$743K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4377	+0.091%	$360	$2K	10x	as long as short
dYdX ONDO-USD	+0.0255%	1h	0.4372	−0.013%	$247K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.480%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4375	+0.046%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4377	+0.103%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0436%	1h	0.4374	+0.023%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4374	+0.017%	$520K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4375	+0.044%	$2K	—	20x	as long as short