ONDO arbitrage explained
Right now Ondo (ONDO) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.4642 and the highest bid on HTX perp at $0.465.
The widest ONDO perpetual spread is between Binance and HTX: long ONDO on Binance at $0.4642 and short on HTX at $0.465 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.041% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ONDO route is to buy spot on KuCoin and short the perpetual on HTX: +0.16% gross, -0.04% net, with +0.071% a day of funding on the short leg.
Spot–spot ONDO arbitrage (buy on KuCoin, withdraw, deposit and sell on Binance) shows +0.06% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ONDO gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ONDO funding rates · ONDO spread charts · Ondo price · arbitrage scanner for all coins.