OpenChainBench

Bybit vs Ondo Perps

Split decision: Bybit leads on Cheapest perp venue to hold a position, live funding normalized (2.54 bps vs 3.17 bps); Ondo Perps leads on Perp DEX funding stability, 24h stddev of ETH funding ranked (0.0054% vs 0.0065%).

Read methodology Last measured Window: rolling 24h2 shared benchmarks
Bybit logo
Bybit

Bybit is one of the largest centralized derivatives exchanges, with USDT-margined linear perpetuals on hundreds of pairs and funding settled on 8 hour (some pairs 4 hour) periods.

Ondo Perps logo
Ondo Perps

Ondo Perps is Ondo Finance's perpetuals exchange (live since June 2026): an off-chain matching engine running in Intel SGX enclaves with on-chain custody on Ethereum and Arbitrum, USDC and Ondo tokenized stocks as collateral, and 60+ markets across US equities, ETFs, commodities, indices, FX and crypto.

Side by side measurements

Cheapest perp venue to hold a position, live funding normalized

Trading

Bybit

Leads

2.54 bps

p99
2.50 bps
rank
—
samples
2,880

Ondo Perps

Trails

3.17 bps

p99
3.00 bps
rank
#6
samples
1,344
Funding cost to hold a long 24h
Bybitn/aOndo Perpsn/a

Funding is signed. Positive means longs pay shorts, negative means longs get paid to hold. Venues settle on different native periods (1h for Hyperliquid and dYdX, 4h or 8h elsewhere); every figure is normalized from the venue's own quoted rate and interval before ranking. Funding is only the holding cost. Opening costs (taker fee, spread, impact) are the companion bench perp-fees.

Rolling 24h · Funding cost to hold a long 24hRaw JSON

Perp DEX funding stability, 24h stddev of ETH funding ranked

Trading

Bybit

Trails

0.0065 %

p99
0.0076%
rank
—
samples
2,880

Ondo Perps

Leads

0.0054 %

p99
0%
rank
#4
samples
1,344
24h ETH funding stddev
Bybitn/aOndo Perpsn/a

Ranked only with 24 hours of funding history (288 samples) and a stddev above zero: a young listing, or a venue whose rate has not moved since listing (Ondo Perps at launch, Polymarket in July), reads artificially stable and shows as Provisional, never as the leader. Stability is not directionality: a persistently positive but tight band ranks above a rate that flips every settlement.

Rolling 24h · 24h ETH funding stddevRaw JSON

Frequently asked questions

Bybit vs Ondo Perps: which one is better?

Bybit and Ondo Perps are compared on 2 shared OpenChainBench benchmarks. Bybit leads on Cheapest perp venue to hold a position, live funding normalized. Ondo Perps leads on Perp DEX funding stability, 24h stddev of ETH funding ranked. See the live table on this page for every metric.

Which is cheaper on funding cost to hold a long 24h, Bybit or Ondo Perps?

On the Cheapest perp venue to hold a position, live funding normalized benchmark, Bybit leads at 2.54 bps versus Ondo Perps at 3.17 bps. Live measurement is updated continuously by the OpenChainBench harness.

Which is cheaper on 24h eth funding stddev, Bybit or Ondo Perps?

On the Perp DEX funding stability, 24h stddev of ETH funding ranked benchmark, Ondo Perps leads at 0.0054% versus Bybit at 0.0065%. Live measurement is updated continuously by the OpenChainBench harness.

How is the Bybit vs Ondo Perps comparison measured?

Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.

How this pair was selected

Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing; panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.

Live data refreshes via ISR within 60 seconds of a new run. Sources are the same Prometheus queries surfaced on the parent benchmark pages.