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: KuCoin against Bybit+0.023%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.023%, 7d avg +0.044%

Together, before fees+0.049%+$5 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: KuCoin is 0.021% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4411	0.0100	pay 0.0050% / 4h	1h 28m	$69.8M	$122.9M	50x
Short	KuCoin ONDOUSDTM	0.4412	0.0100	get 0.0050% / 4h	1h 28m	$12.9M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.044%: −$2.13
Slippage, 4 orders: −$29.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.75
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 10 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, 1 min ago	1.13 bp	8.7 bp −$9	14.6 bp −$146	51.5 bp −$5,148	doesn't fit
Sell KuCoin live order book, 10 min ago	2.28 bp	17.6 bp −$18	31.0 bp −$310	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
dYdX ONDO-USD	+0.0002%	1h	0.4413	+0.043%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4413	+0.041%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.559%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4411	−0.008%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4411	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4415	+0.102%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4412	+0.031%	$64.0M	$226.0M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4411	long leg	$69.8M	$122.9M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	−0.023%	$17.1M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4422	+0.243%	$72K	$87K	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	0.4412	+0.025%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4410	−0.023%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4409	−0.045%	$46.7M	$41.4M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4412	+0.023%	$12.9M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4410	−0.023%	$25.2M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4411	0.000%	—	$759K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4427	+0.353%	$717K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4421	+0.229%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4435	+0.545%	$415K	$992K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4427	+0.363%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4416	+0.113%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4416	+0.113%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4413	+0.045%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4421	+0.227%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4414	+0.068%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	−0.005%	$398K	$790K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4414	+0.068%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4414	+0.072%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0165%	4h	0.4417	+0.136%	$711K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0187%	1h	0.4412	+0.018%	$38.3M	$24.5M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0208%	1h	0.4411	+0.005%	$191K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4433	+0.499%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4417	+0.136%	$3.1M	$3.1M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4419	+0.181%	$284K	$705K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4414	+0.068%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4413	+0.045%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4414	+0.064%	$487K	—	100x	as long as short
Lighter ONDO	+0.0880%	1h	0.4420	+0.200%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4416	+0.103%	$2K	—	20x	as long as short