Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against HTX0.000%7-day average −0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1891.886% of the position

Long on HTX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now 0.000%, 7d avg −0.157%

Together, before fees+0.084%+$8 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 0.157% dearer against HTX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4345	0.0100	pay 0.0050% / 4h	3h 47m	$129K	$369K	50x
Short	BingX ONDO-USDC	0.4345	0.0100	get 0.0050% / 4h	3h 47m	—	$779K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against HTX. 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 HTXbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.157%: $15.74
Slippage, 4 orders: −$166.57
Fee HTX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$172.83
Costs to cover: 1.886%
Break-even: never at this rate

Slippage from HTX: live order book, 50 min ago; BingX: live order book, 71 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 HTX live order book, 50 min ago	17.31 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 71 min ago	2.32 bp	63.2 bp −$63	102.2 bp −$1,022	671.4 bp −$67.1K	1040.4 bp −$520.2K

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	−0.0176%	1h	0.4341	−0.100%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4341	−0.091%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.132%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4347	+0.037%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4343	−0.046%	$347K	$890K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4348	+0.069%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4345	0.000%	$63.5M	$233.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4344	−0.023%	$68.6M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4345	0.000%	$17.4M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4341	−0.083%	$71K	$81K	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	0.4339	−0.142%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4344	−0.023%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4345	0.000%	$44.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4345	0.000%	$12.2M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4345	0.000%	$24.9M	$36.7M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4345	0.000%	—	$779K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4343	−0.046%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.143%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4330	−0.337%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	−0.287%	$408K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.322%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4339	−0.138%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.092%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4338	−0.161%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4343	−0.046%	$2K	$15K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4345	long leg	$129K	$369K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4342	−0.069%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4338	−0.166%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4346	+0.015%	$366K	$829K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	−0.023%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4343	−0.046%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	−0.138%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4338	−0.170%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4344	−0.028%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.161%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4341	−0.102%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0643%	1h	0.4350	+0.120%	$36.7M	$27.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4341	−0.086%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1744%	1h	0.4334	−0.244%	$243K	$155K	5x	as long as short