Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended−0.001%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1321.317% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.001%, 7d avg +0.034%

Together, before fees−0.006%+ Points / potential airdropExtended: Active · farm board−$1 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 0.035% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4290	0.0104	pay 0.0013% / 1h	47m 45s	$346K	$760K	25x
Short	BingX ONDO-USDC	0.4290	0.0100	get 0.0050% / 4h	47m 45s	—	$781K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$0.84
Price spread: −0.001% → +0.034%: −$3.5
Slippage, 4 orders: −$116.71
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$136.05
Costs to cover: 1.317%
Break-even: never at this rate

Slippage from Extended: live order book, 58 min ago; BingX: live order book, 19 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 Extended live order book, 58 min ago	3.48 bp	6.0 bp −$6	16.2 bp −$162	doesn't fit	doesn't fit
Sell BingX live order book, 19 min ago	2.32 bp	67.5 bp −$67	164.1 bp −$1,641	754.3 bp −$75.4K	1059.3 bp −$529.6K

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	−0.0259%	1h	0.4291	+0.023%	$2.5M	$6.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4291	+0.022%	$21K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4290	−0.011%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.479%	$888	$214K	5.5x	as long as short
Bybit ONDOUSDT	+0.0063%	4h	0.4287	−0.071%	$67.0M	$112.5M	50x	as long as short
Lighter ONDO	+0.0096%	1h	0.4294	+0.088%	$1.0M	$2.1M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4289	−0.024%	$23K	$7K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4289	−0.024%	$329K	$815K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4292	+0.036%	$36.1M	$26.2M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4293	+0.069%	$764K	$2.8M	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	0.4291	+0.034%	$61.9M	$211.6M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4287	−0.071%	$17.2M	$65.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4280	−0.236%	$68K	$65K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4289	−0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4290	−0.001%	$14.1M	$12.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4292	+0.046%	$43.8M	$39.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4291	+0.022%	$12.9M	$9.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4289	−0.024%	$24.8M	$30.6M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4290	−0.001%	—	$781K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4291	+0.013%	$176K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4281	−0.202%	$613K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4284	−0.151%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4285	−0.108%	$407K	$2.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4284	−0.141%	$85K	$350K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4290	+0.004%	$53K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4291	+0.022%	—	$1.2M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4291	+0.022%	$446	$17K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4295	+0.116%	$105K	$439K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4292	+0.046%	$4.1M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4292	+0.046%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4290	long leg	$346K	$760K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4292	+0.041%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4291	+0.013%	$353	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0162% / S +0.0061%	1h	0.4289	−0.034%	$271K	—	100x	as long as short
Phoenix ONDO	+0.0167%	1h	0.4289	−0.013%	$34K	$204K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0240%	1h	0.4305	+0.349%	$212K	$548K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4275	−0.351%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1168%	1h	0.4286	−0.086%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3899%	1h	0.4290	−0.008%	$245K	$159K	5x	as long as short