Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Polymarket Perps−0.190%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.227%+$23 · spread now −0.190%, 7d avg −0.031%

Together, before fees+0.179%+$18 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: Binance is 0.159% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4344	0.0100	pay 0.0013% / 1h	17m 52s	$60K	$1.4M	10x
Short	Binance ONDOUSDT	0.4336	0.0100	get 0.0050% / 4h	2h 17m	$63.3M	$227.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now −0.190%Rate

Funding earned: $0
Price spread: −0.190% → −0.031%: −$15.9
Slippage, 4 orders: −$14.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$48.11
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Binance: live order book, 4 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 Polymarket Perps live order book, 4 min ago	2.99 bp	9.6 bp −$10	25.0 bp −$250	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.15 bp	7.5 bp −$7	12.9 bp −$129	50.3 bp −$5,033	doesn't fit

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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4340	−0.094%	$22K	$384K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.099%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4339	−0.119%	$2.6M	$7.5M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.154%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	−0.030%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4338	−0.140%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4345	+0.009%	$339K	$865K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4338	−0.150%	$775K	$2.9M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4336	−0.190%	$63.3M	$227.5M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4333	−0.256%	$68.4M	$119.0M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	−0.209%	$17.2M	$69.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4342	−0.051%	$72K	$77K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4343	−0.035%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4335	−0.209%	$13.7M	$14.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4334	−0.232%	$44.9M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4338	−0.140%	$13.1M	$9.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	−0.186%	$25.2M	$35.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4335	−0.209%	—	$782K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	−0.140%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4345	+0.012%	$801K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4349	+0.104%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4346	+0.052%	$401K	$1.8M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4352	+0.182%	$134K	$320K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4344	long leg	$60K	$1.4M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4344	−0.002%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4339	−0.117%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.113%	$106K	$489K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	−0.163%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4338	−0.138%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4341	−0.073%	$36.5M	$27.1M	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	−0.227%	$364K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4340	−0.086%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4344	+0.007%	$358	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4353	+0.207%	$35K	$217K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4353	+0.205%	$214K	$633K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4343	−0.025%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4340	−0.088%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1165%	1h	0.4342	−0.059%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2898%	1h	0.4340	−0.085%	$248K	$160K	5x	as long as short