Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.084%

Price spread now: Bitget against Coinbase International+0.070%7-day average −0.218% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$670.668% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.814%−$81 on $10k

Price spread, last 4 days (all we have)−0.395%−$40 · spread now +0.070%, 7d avg −0.218%

Together, before fees−1.209%−$121 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.288% dearer against Coinbase International than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of −0.218%): +$29 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.3 days. At the pace of the last 7 days (−0.814% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4277	0.0280	pay 0.0035% / 1h	29m 46s	$211K	$606K	50x
Short	Bitget ONDOUSDT	0.4280	0.0100	get 0.0050% / 4h	1h 29m	$24.7M	$33.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$37.8
Price spread: +0.070% → −0.218%: $28.79
Slippage, 4 orders: −$44.77
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$75.78
Costs to cover: 0.668%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 16 min ago; Bitget: live order book, 2 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 Coinbase International live order book, 16 min ago	9.30 bp	32.1 bp −$32	84.4 bp −$844	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.34 bp	10.1 bp −$10	17.6 bp −$176	64.7 bp −$6,472	doesn't fit

ONDO on 39 exchanges

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	−0.0329%	1h	0.4277	−0.012%	$2.5M	$7.0M	50x	as long as short
01 Exchange ONDOUSD	−0.0016%	1h	0.4276	−0.026%	$352	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4279	+0.047%	$21K	$365K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4276	−0.031%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.804%	$888	$215K	5.5x	as long as short
Bybit ONDOUSDT	+0.0045%	4h	0.4276	−0.023%	$66.2M	$116.4M	50x	as long as short
Lighter ONDO	+0.0096%	1h	0.4281	+0.084%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4276	−0.023%	$23K	$7K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4282	+0.125%	$35.7M	$27.0M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4282	+0.112%	$759K	$2.9M	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4279	+0.048%	$61.8M	$222.5M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4278	+0.023%	$16.8M	$67.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4269	−0.185%	$68K	$74K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4275	−0.036%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4278	+0.023%	$13.8M	$13.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4280	+0.070%	$43.1M	$41.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4278	+0.023%	$13.0M	$9.5M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4280	+0.070%	$24.7M	$33.2M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4279	+0.047%	—	$23.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4279	+0.035%	$181K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4270	−0.152%	$666K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4268	−0.203%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4273	−0.094%	$398K	$2.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4281	+0.094%	$86K	$353K	50x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4278	+0.018%	$330K	$833K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4281	+0.084%	$55K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4276	−0.023%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4277	0.000%	$445	$16K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4276	−0.023%	$105K	$462K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4277	0.000%	$4.1M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4275	−0.042%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4277	−0.003%	$346K	$769K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4279	+0.035%	$37K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0174% / S +0.0228%	1h	0.4279	+0.058%	$348K	—	100x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4275	−0.035%	$34K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0280%	1h	0.4277	long leg	$211K	$606K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4274	−0.070%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1167%	1h	0.4275	−0.055%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3844%	1h	0.4274	−0.066%	$245K	$159K	5x	as long as short