Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: KuCoin against Backpack+0.014%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days+0.009%+$1 · spread now +0.014%, 7d avg +0.021%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4335	0.0100	pay 0.0013% / 1h	58m 45s	$180K	$990K	15x
Short	KuCoin ONDOUSDTM	0.4336	0.0100	get 0.0050% / 4h	1h 58m	$13.1M	$9.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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 BackpackbpFee KuCoinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.021%: −$0.72
Slippage, 4 orders: −$31.81
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.52
Costs to cover: 0.538%
Break-even: never at this rate

Slippage from Backpack: live order book, 13 min ago; KuCoin: live order book, 3 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 Backpack live order book, 13 min ago	1.27 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.15 bp	15.8 bp −$16	31.9 bp −$319	doesn't fit	doesn't fit

ONDO on 39 exchanges

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	−0.0324%	1h	0.4335	+0.002%	$2.6M	$7.3M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4329	−0.157%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.365%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4342	+0.148%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4335	−0.009%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4335	+0.002%	$338K	$821K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4339	+0.090%	$773K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4337	+0.036%	$63.3M	$223.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4333	−0.055%	$67.9M	$117.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	−0.009%	$17.3M	$67.5M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4329	−0.150%	$71K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4336	+0.024%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4337	+0.037%	$13.8M	$13.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	−0.009%	$46.3M	$39.8M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4336	+0.014%	$13.1M	$9.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4338	+0.060%	$25.3M	$33.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4337	+0.037%	—	$786K	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4335	long leg	$180K	$990K	15x
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.252%	$799K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4329	−0.139%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4344	+0.198%	$405K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.194%	$133K	$319K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4338	+0.053%	$60K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4336	+0.014%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4337	+0.037%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4343	+0.175%	$106K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	+0.014%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.047%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4337	+0.027%	$355K	$779K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4339	+0.083%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4337	+0.037%	$21K	$369K	25x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4334	−0.042%	$35K	$207K	10x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4338	+0.062%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+0.406%	$214K	$619K	50x	as long as short
Hyperliquid ONDO	+0.0336%	1h	0.4342	+0.150%	$36.6M	$26.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	+0.014%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0203%	1h	0.4335	−0.020%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4336	+0.011%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3356%	1h	0.4336	+0.014%	$248K	$159K	5x	as long as short