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: BingX against Bybit−0.022%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

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

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.022%, 7d avg +0.012%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.034% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4546	0.0100	pay 0.0050% / 4h	3h 55m	$73.6M	$120.6M	50x
Short	BingX ONDO-USDT	0.4545	0.0100	get 0.0050% / 4h	3h 55m	—	$22.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.012%: −$3.45
Slippage, 4 orders: −$11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$35.45
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; BingX: live order book, 3 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, 4 min ago	1.09 bp	8.4 bp −$8	13.7 bp −$137	47.3 bp −$4,733	doesn't fit
Sell BingX live order book, 3 min ago	1.09 bp	7.3 bp −$7	13.4 bp −$134	37.7 bp −$3,768	298.7 bp −$149.4K

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	−0.0879%	1h	0.4542	−0.097%	$2.7M	$8.0M	50x	as long as short
Gate ONDO_USDT	−0.0610%	4h	0.4544	−0.044%	$11.9M	$16.5M	50x	as long as short
ApeX Omni ONDOUSDT	−0.0592%	1h	0.4571	+0.550%	$174K	$312K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4555	+0.190%	$258K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4545	−0.022%	$33K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4546	+0.005%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.484%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4545	−0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4549	+0.066%	$438K	$706K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4552	+0.136%	$40.3M	$26.4M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4552	+0.125%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4546	0.000%	$68.0M	$226.2M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4546	long leg	$73.6M	$120.6M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4546	0.000%	$17.6M	$79.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4564	+0.403%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4549	+0.057%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4546	0.000%	$48.7M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4549	+0.066%	$14.1M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4543	−0.066%	$25.7M	$40.2M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4545	−0.022%	—	$22.2M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4565	+0.425%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4569	+0.503%	$812K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4572	+0.579%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.574%	$430K	$960K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4550	+0.090%	$69K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4546	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4543	−0.066%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4572	+0.572%	$134K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4565	+0.418%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4549	+0.056%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4543	−0.074%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4548	+0.044%	$39K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4548	+0.053%	$374	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4575	+0.636%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4562	+0.352%	$297K	$830K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4570	+0.528%	$3.3M	$3.3M	75x	as long as short
Lighter ONDO	+0.0400%	1h	0.4563	+0.381%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4546	−0.011%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4546	+0.007%	$2K	—	20x	as long as short