Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: BingX against Gate+0.045%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1531.529% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.045%, 7d avg +0.023%

Together, before fees+0.019%+$2 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 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4423	0.0100	pay 0.0050% / 4h	1h 31m	$11.7M	$16.1M	50x
Short	BingX ONDO-USDC	0.4425	0.0100	get 0.0050% / 4h	1h 31m	—	$759K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → +0.023%: $2.23
Slippage, 4 orders: −$127.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$150.64
Costs to cover: 1.529%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; BingX: live order book, 27 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 Gate live order book, 2 min ago	2.26 bp	18.3 bp −$18	31.8 bp −$318	49.6 bp −$4,960	82.9 bp −$41.4K
Sell BingX live order book, 27 min ago	2.27 bp	57.2 bp −$57	103.0 bp −$1,030	614.8 bp −$61.5K	995.2 bp −$497.6K

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
dYdX ONDO-USD	+0.0002%	1h	0.4416	−0.158%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4418	−0.114%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.278%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4420	−0.057%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4420	−0.068%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	−0.045%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4425	+0.056%	$64.3M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4424	+0.023%	$69.9M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4426	+0.068%	$17.1M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4419	−0.088%	$72K	$87K	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	0.4418	−0.102%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4423	long leg	$11.7M	$16.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4423	0.000%	$46.9M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4422	−0.023%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4427	+0.090%	$25.3M	$39.7M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4425	+0.045%	—	$759K	—
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.325%	$713K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4414	−0.210%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4415	−0.181%	$408K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	−0.136%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4422	−0.032%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4422	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4422	−0.023%	$460	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4429	+0.136%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4421	−0.045%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4425	+0.039%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4423	0.000%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4422	−0.018%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0152%	4h	0.4427	+0.093%	$714K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0203%	1h	0.4426	+0.077%	$38.4M	$24.5M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0211%	1h	0.4423	−0.002%	$191K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.574%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4421	−0.045%	$3.1M	$3.1M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.362%	$283K	$700K	50x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4424	+0.025%	$364	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4416	−0.156%	$487K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0655%	1h	0.4422	−0.023%	$23K	$349K	25x	as long as short
Lighter ONDO	+0.0896%	1h	0.4430	+0.151%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4420	−0.064%	$2K	—	20x	as long as short