Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −1.617%

Price spread now: Binance against dYdX−0.048%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$684as in the Funding arb table

Net, price: spread back to 7d avg − costs−$414as in the Price arb table

costs, in and out, $10k−$4064.062% of the position

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−2.776%−$278 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.048%, 7d avg +0.029%

Together, before fees−2.679%−$268 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.077% cheaper against dYdX than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of +0.029%). If the spread goes back, that is −$8 on $10k: about 2.6 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −2.776%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4600	0	get 0.0000% / 1h	29m 34s	$260K	$131K	5x
Short	Binance ONDOUSDT	0.4598	0.0100	get 0.0050% / 4h	3h 29m	$68.9M	$223.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.048%Rate

Funding earned: $21
Price spread: −0.048% → +0.029%: −$7.68
Slippage, 4 orders: −$386.22
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$392.9
Costs to cover: 4.062%
Break-even: 138.0 days

Slippage from dYdX: live order book, 45 min ago; Binance: live order book, 14 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 dYdX live order book, 45 min ago	91.11 bp	96.1 bp −$96	96.1 bp −$961	175.9 bp −$17.6K	1108.0 bp −$554.0K
Sell Binance live order book, 14 min ago	1.09 bp	10.1 bp −$10	14.3 bp −$143	55.7 bp −$5,567	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	−0.0868%	1h	0.4599	−0.028%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USDlong	0.0000%	1h	0.4600	long leg	$260K	$131K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4598	−0.050%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.704%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4599	−0.030%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4601	+0.013%	$432K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4600	−0.018%	$726K	$2.2M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4598	−0.048%	$68.9M	$223.9M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4598	−0.052%	$74.4M	$120.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4601	+0.013%	$17.6M	$79.0M	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	0.4613	+0.278%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4598	−0.058%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4597	−0.074%	$12.1M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4599	−0.030%	$49.9M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4598	−0.052%	$14.2M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4601	+0.013%	$26.1M	$39.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4600	−0.009%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4602	+0.030%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4597	−0.079%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4606	+0.120%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	+0.109%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4611	+0.230%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4601	+0.017%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4599	−0.030%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4601	+0.013%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4609	+0.187%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4599	−0.030%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4599	−0.034%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4601	+0.008%	$417K	$842K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4602	+0.046%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0185%	1h	0.4601	+0.013%	$34K	$363K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4636	+0.772%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4603	+0.050%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.665%	$300K	$828K	50x	as long as short
Hyperliquid ONDO	+0.0285%	1h	0.4603	+0.065%	$41.0M	$25.5M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4594	−0.139%	$3.3M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4598	−0.060%	$549K	—	100x	as long as short
Lighter ONDO	+0.0600%	1h	0.4607	+0.141%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4598	−0.046%	$2K	—	20x	as long as short