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 0.000%

Price spread now: Bybit against HTX+0.045%53s7-day average −0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$860.859% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now +0.045%, 7d avg −0.182%

Together, before fees−0.048%−$5 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: Bybit is 0.228% dearer against HTX than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.182%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4420	0.0100	pay 0.0050% / 4h	1h 33m	$130K	$473K	50x
Short	Bybit ONDOUSDT	0.4422	0.0100	get 0.0050% / 4h	1h 33m	$69.9M	$122.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → −0.182%: $22.76
Slippage, 4 orders: −$62.85
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.1
Costs to cover: 0.859%
Break-even: never at this rate

Slippage from HTX: live order book, 30 min ago; Bybit: live order book, 6 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, 30 min ago	14.71 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	1.14 bp	8.7 bp −$9	14.3 bp −$143	55.8 bp −$5,579	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
dYdX ONDO-USD	0.0000%	1h	0.4416	−0.091%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4420	+0.011%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.348%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4411	−0.201%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4421	+0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4424	+0.096%	$375K	$838K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4425	+0.113%	$64.3M	$226.0M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4422	+0.045%	$69.9M	$122.8M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4423	+0.068%	$17.1M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4419	−0.020%	$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	0.4421	+0.022%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4420	0.000%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4424	+0.090%	$47.0M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4422	+0.045%	$13.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4424	+0.090%	$25.3M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4423	+0.068%	—	$21.8M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.257%	$713K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4414	−0.142%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4415	−0.113%	$408K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	−0.068%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4425	+0.111%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4414	−0.136%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4413	−0.158%	$459	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4420	long leg	$130K	$473K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4413	−0.158%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4422	+0.034%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4426	+0.126%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4424	+0.091%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0152%	4h	0.4425	+0.113%	$714K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0192%	1h	0.4428	+0.176%	$38.4M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0196%	1h	0.4416	−0.088%	$190K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.507%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4415	−0.113%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.294%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4426	+0.145%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4411	−0.204%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4421	+0.012%	$487K	—	100x	as long as short
Lighter ONDO	+0.0880%	1h	0.4424	+0.093%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4424	+0.095%	$2K	—	20x	as long as short