Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bitget against Extended+0.025%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.025%, 7d avg +0.045%

Together, before fees−0.101%+ Points / potential airdropExtended: Active · farm board−$10 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: Bitget is 0.020% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4593	0.0104	pay 0.0013% / 1h	7m 08s	$417K	$823K	25x
Short	Bitget ONDOUSDT	0.4594	0.0100	get 0.0050% / 4h	3h 07m	$26.1M	$38.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$0.84
Price spread: +0.025% → +0.045%: −$2.04
Slippage, 4 orders: −$18.17
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$38.05
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Extended: live order book, 1 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 Extended live order book, 1 min ago	4.35 bp	6.8 bp −$7	16.0 bp −$160	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.17 bp	9.8 bp −$10	17.1 bp −$171	64.8 bp −$6,482	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	−0.0869%	1h	0.4594	+0.027%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4594	+0.030%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4591	−0.041%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.541%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4591	−0.040%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4597	+0.096%	$431K	$705K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4595	+0.047%	$68.8M	$221.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4591	−0.040%	$74.0M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4590	−0.062%	$17.6M	$77.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4593	+0.001%	$73K	$91K	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	0.4593	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4592	−0.019%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4594	+0.025%	$49.4M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4595	+0.047%	$14.3M	$10.7M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4594	+0.025%	$26.1M	$38.6M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4594	+0.025%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4599	+0.128%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.231%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.183%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.243%	$172K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4597	+0.090%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4594	+0.025%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	+0.025%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4600	+0.156%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4595	+0.047%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	+0.116%	$7K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4593	long leg	$417K	$823K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4596	+0.069%	$40K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0105%	4h	0.4593	+0.010%	$724K	$2.1M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0114%	1h	0.4595	+0.047%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4601	+0.167%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4597	+0.084%	$378	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4591	−0.040%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4598	+0.112%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0377%	1h	0.4599	+0.128%	$40.9M	$24.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4594	+0.025%	$34K	$340K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4591	−0.040%	$548K	—	100x	as long as short
Lighter ONDO	+0.0680%	1h	0.4604	+0.236%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4595	+0.041%	$2K	—	20x	as long as short