Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1042%/8h= −114.1% APRpaid last 24h −0.305%

Price spread now: BingX against Reya−0.003%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$31 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4575	0.1142	pay 0.0143% / 1h	46m 10s	$2K	—	20x
Short	BingX ONDO-USDC	0.4575	0.0100	get 0.0050% / 4h	46m 10s	—	$742K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Reya. 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 ReyabpFee BingXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$218.88
Price spread: −0.003% → 0.000%: −$0.26
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$235.14
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BingX: live order book, 58 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 58 min ago	2.20 bp	54.5 bp −$55	92.8 bp −$928	689.1 bp −$68.9K	1037.5 bp −$518.7K

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0798%	1h	0.4571	−0.080%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.156%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4574	−0.027%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4574	−0.024%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4575	−0.003%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4574	−0.019%	$722K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4573	−0.057%	$68.4M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4572	−0.068%	$74.2M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4569	−0.134%	$17.8M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4566	−0.206%	$74K	$89K	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	0.4571	−0.081%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4572	−0.068%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4572	−0.068%	$49.7M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4575	−0.003%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4572	−0.068%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4575	−0.003%	—	$742K	—
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.258%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4575	−0.012%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4575	−0.011%	$433K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.282%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4577	+0.037%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4573	−0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4573	−0.046%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4579	+0.085%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4574	−0.024%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4572	−0.071%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4572	−0.064%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4576	+0.008%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0187%	1h	0.4576	+0.019%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0190%	1h	0.4567	−0.188%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.074%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.522%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4566	−0.199%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0349%	1h	0.4580	+0.098%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0464%	1h	0.4579	+0.083%	$377	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4574	−0.030%	$546K	—	100x	as long as short
Lighter ONDO	+0.1000%	1h	0.4580	+0.100%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1142%	1h	0.4575	long leg	$2K	—	20x
dYdX ONDO-USD	+0.7043%	1h	0.4570	−0.121%	$259K	$130K	5x	as long as short