Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against SunX−0.114%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1481.484% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.114%, 7d avg −0.028%

Together, before fees+0.061%+$6 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 0.086% cheaper against SunX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4397	0.0100	pay 0.0050% / 4h	3h 50m	—	$1.4M	20x
Short	Bybit ONDOUSDT	0.4392	0.0100	get 0.0050% / 4h	3h 50m	$68.2M	$126.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.028%: −$8.62
Slippage, 4 orders: −$129.43
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$157.05
Costs to cover: 1.484%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Bybit: 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 SunX live order book, 4 min ago	46.65 bp	65.8 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.14 bp	8.5 bp −$8	15.5 bp −$155	57.5 bp −$5,751	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
Kraken Futures PF_ONDOUSD	−0.0159%	1h	0.4393	−0.090%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4397	+0.009%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4393	−0.093%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.889%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4403	+0.130%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4393	−0.091%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4395	−0.045%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4395	−0.044%	$63.6M	$230.9M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4392	−0.114%	$68.2M	$126.4M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4394	−0.068%	$17.3M	$73.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4408	+0.252%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4396	−0.015%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.091%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4394	−0.068%	$43.8M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4394	−0.068%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4394	−0.068%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4394	−0.068%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4404	+0.157%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4404	+0.153%	$719K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4407	+0.234%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4413	+0.364%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4409	+0.273%	$136K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4395	−0.039%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4397	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4396	−0.023%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4406	+0.205%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4396	−0.023%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4397	+0.002%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4393	−0.084%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4396	−0.011%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4397	+0.002%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4394	−0.068%	$18K	$367K	25x	as long as short
Aster ONDOUSDT	+0.0228%	4h	0.4400	+0.060%	$783K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4408	+0.250%	$272K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0294%	1h	0.4399	+0.034%	$37.8M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4398	+0.023%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4407	+0.227%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4393	−0.095%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4395	−0.051%	$2K	—	20x	as long as short