Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit+0.324%59s7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.320% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.324%, 7d avg +0.080%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.243% dearer against Bybit than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.080%. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4326	0.0100	pay 0.0050% / 4h	1h 54m	$67.5M	$126.3M	50x
Short	ApeX Omni ONDOUSDT	0.4340	0.0190	get 0.0024% / 1h	54m 31s	$133K	$356K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.324%Rate

Funding earned: $18.95
Price spread: +0.324% → +0.080%: $24.34
Slippage, 4 orders: −$11.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $11.26
Costs to cover: 0.320%
Break-even: 2.8 days

Slippage from Bybit: live order book, 5 min ago; ApeX Omni: live order book, 53 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 Bybit live order book, 5 min ago	1.15 bp	8.2 bp −$8	14.2 bp −$142	47.6 bp −$4,759	doesn't fit
Sell ApeX Omni live order book, 53 min ago	1.15 bp	7.6 bp −$8	22.1 bp −$221	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	0.4331	+0.114%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4331	+0.119%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4328	+0.055%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.594%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4333	+0.157%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4330	+0.092%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4331	+0.127%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4328	+0.050%	$62.9M	$238.4M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4326	long leg	$67.5M	$126.3M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4329	+0.069%	$17.2M	$73.6M	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	0.4361	+0.800%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4327	+0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4328	+0.046%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4328	+0.046%	$42.5M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4328	+0.046%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4328	+0.046%	$24.8M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4329	+0.069%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	+0.160%	$179K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	+0.063%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4344	+0.419%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4339	+0.301%	$404K	$1.4M	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4329	+0.069%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4331	+0.116%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4330	+0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	+0.162%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4338	+0.277%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	+0.139%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4329	+0.059%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4328	+0.054%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4334	+0.181%	$38K	$13K	3x	as long as short
ApeX Omni ONDOUSDTshort	+0.0190%	1h	0.4340	+0.324%	$133K	$356K	50x
01 Exchange ONDOUSD	+0.0224%	1h	0.4329	+0.079%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4333	+0.162%	$215K	$725K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.458%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4330	+0.092%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4333	+0.162%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0467%	1h	0.4334	+0.173%	$36.6M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4329	+0.060%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4328	+0.041%	$2K	—	20x	as long as short