Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Bybit+0.043%49s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.043% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	0.4349	0.0100	pay 0.0050% / 4h	2h 01m	$67.9M	$126.5M	50x
Short	Paradex ONDO-USD-PERP	0.4351	0.0100	get 0.0100% / 8h	2h 01m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0.03
Price spread: +0.043% → 0.000%: $4.31
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.66
Costs to cover: 0.150%
Break-even: 2768.1 days

Slippage unknown: Bybit: live order book, 2 min ago; Paradex: 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 Bybit live order book, 2 min ago	1.15 bp	8.0 bp −$8	13.6 bp −$136	46.4 bp −$4,638	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Kraken Futures PF_ONDOUSD	−0.0240%	1h	0.4352	+0.058%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4350	+0.015%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0009%	1h	0.4349	+0.003%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.036%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4355	+0.147%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4352	+0.080%	$347K	$895K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4358	+0.195%	$36.8M	$27.1M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4354	+0.115%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4352	+0.069%	$63.3M	$238.4M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4349	long leg	$67.9M	$126.5M	50x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4351	+0.046%	$17.3M	$74.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4351	+0.051%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4352	+0.061%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4351	+0.046%	$12.3M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4352	+0.069%	$43.3M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4351	+0.046%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4353	+0.092%	$25.0M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4351	+0.046%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	+0.110%	$181K	$992K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4365	+0.362%	$647K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4364	+0.341%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4362	+0.299%	$407K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4361	+0.276%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4354	+0.110%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4351	+0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	+0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4352	+0.069%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4362	+0.299%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4352	+0.069%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0100%	8h	0.4351	+0.043%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4350	+0.022%	$393K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	+0.126%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4355	+0.131%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4366	+0.391%	$217K	$756K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4367	+0.407%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4360	+0.253%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4352	+0.069%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4350	+0.015%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4352	+0.066%	$2K	—	20x	as long as short