Bitget vs Ondo Perps Funding Arbitrage
49 shared markets · net of estimated fees · updated every few minutesBitget and Ondo Perps both quote 49 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is MSTR — long Bitget / short Ondo Perps at 128.3% net APR — but the median across all shared markets is 27.3%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 37 markets go long on Bitget and 12 on Ondo Perps. 33 markets clear 5% net APR, 32 clear 10%.
How this pair behaves
Bitget pays funding every 8h on 256 markets and every 4h on 249 markets; Ondo Perps pays every 1h on 65 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. Bitget quotes 508 perpetual markets in total and Ondo Perps quotes 65; the 49 they share are what this page ranks. Across its own book Bitget runs a median funding rate of 7.0% and Ondo Perps 5.5%, so the edge here comes from individual markets rather than from a standing gap between the venues.
Spreads by market
top 25 of 49 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| TTWO | Ondo Perps | Bitget | 275.5% | 280.1% | +8.7% | $73K |
| MSTR | Bitget | Ondo Perps | 128.3% | 131.1% | -5.2% | $6.2M |
| BABA | Bitget | Ondo Perps | 125.1% | 129.1% | +11.0% | $106K |
| CRCL | Bitget | Ondo Perps | 94.0% | 97.2% | -0.0% | $4.8M |
| SOXL | Ondo Perps | Bitget | 82.2% | 84.8% | +19.5% | $3.9M |
| CXMT | Ondo Perps | Bitget | 69.5% | 73.7% | -26.9% | $213K |
| PURR | Bitget | Ondo Perps | 64.8% | 69.1% | +7.5% | $16K |
| KORU | Ondo Perps | Bitget | 62.4% | 67.1% | +4.6% | $52K |
| HOOD | Bitget | Ondo Perps | 60.2% | 63.2% | +0.4% | $2.0M |
| MRVL | Bitget | Ondo Perps | 58.6% | 61.5% | -3.7% | $837K |
| ZHIPU | Ondo Perps | Bitget | 55.5% | 62.0% | -24.7% | $43K |
| CBRS | Bitget | Ondo Perps | 54.7% | 58.1% | -5.2% | $2.5M |
| ARM | Bitget | Ondo Perps | 49.9% | 53.6% | +2.6% | $192K |
| TSM | Bitget | Ondo Perps | 45.6% | 49.2% | -4.3% | $74K |
| SNDK | Ondo Perps | Bitget | 44.5% | 47.7% | +9.4% | $7.0M |
| COIN | Bitget | Ondo Perps | 42.9% | 46.3% | -4.3% | $3.1M |
| GLW | Bitget | Ondo Perps | 42.8% | 45.8% | +3.0% | $562K |
| PUMP | Bitget | Ondo Perps | 35.3% | 39.0% | +7.8% | $118K |
| XAG | Ondo Perps | Bitget | 32.7% | 36.1% | +8.9% | $3.4M |
| BMNR | Bitget | Ondo Perps | 32.2% | 36.3% | +2.2% | $11K |
| MU | Bitget | Ondo Perps | 32.2% | 35.1% | -8.5% | $5.2M |
| XAU | Ondo Perps | Bitget | 31.5% | 33.9% | +6.6% | $161.5M |
| INTC | Bitget | Ondo Perps | 30.6% | 33.9% | -4.4% | $4.1M |
| CRWV | Bitget | Ondo Perps | 30.6% | 34.5% | -0.9% | $155K |
| ENA | Bitget | Ondo Perps | 27.3% | 30.4% | +4.8% | $140K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Bitget vs Ondo Perps — FAQ
How many markets can you arbitrage between Bitget and Ondo Perps?
49 perpetual markets are quoted on both Bitget and Ondo Perps right now. 33 of them show a net spread of at least 5% APR after estimated fees, and 23 have at least $1M of 24h volume on the smaller leg.
What is the best Bitget / Ondo Perps funding spread right now?
MSTR: long Bitget and short Ondo Perps for about 128.3% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 49 shared markets is 27.3%, so the top of the list is not typical.
Which side pays on the Bitget / Ondo Perps pair?
It varies by market: Bitget is the long (funding-receiving) leg in 37 of the shared markets and Ondo Perps in the other 12. The direction is set per market by which venue currently prices funding lower.
Trading the Bitget / Ondo Perps spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Bitget funding rates · Ondo Perps funding rates; the full calculation is in the methodology.