Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h +1.577%

Price spread now: dYdX against BloFin+0.037%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$395as in the Price arb table

costs, in and out, $10k−$4044.039% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.284%+$228 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.037%, 7d avg −0.049%

Together, before fees+2.205%+$220 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.086% dearer against BloFin than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.049%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +2.284%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4570	0.0340	pay 0.0170% / 4h	3h 56m	$3.3M	$3.3M	75x
Short	dYdX ONDO-USD	0.4572	0	get 0.0000% / 1h	56m 59s	$259K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$71.4
Price spread: +0.037% → −0.049%: $8.61
Slippage, 4 orders: −$381.86
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$466.65
Costs to cover: 4.039%
Break-even: never at this rate

Slippage from BloFin: live order book, 11 min ago; dYdX: live order book, 17 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 BloFin live order book, 11 min ago	1.09 bp	7.1 bp −$7	14.5 bp −$145	31.0 bp −$3,103	doesn't fit
Sell dYdX live order book, 17 min ago	91.11 bp	293.6 bp −$294	295.5 bp −$2,955	607.8 bp −$60.8K	1660.0 bp −$830.0K

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	−0.0874%	1h	0.4571	+0.018%	$2.8M	$8.0M	50x	as long as short
Gate ONDO_USDT	−0.0836%	4h	0.4570	0.000%	$12.0M	$16.5M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4572	+0.037%	$259K	$132K	5x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4575	+0.109%	$33K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4575	+0.114%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.044%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4572	+0.044%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4568	−0.044%	$440K	$706K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4577	+0.142%	$40.5M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4575	+0.102%	$724K	$2.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4571	+0.022%	$68.4M	$226.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4571	+0.022%	$74.0M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4570	0.000%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4564	−0.125%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4568	−0.047%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4572	+0.044%	$49.0M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4573	+0.066%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4571	+0.022%	$25.8M	$40.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4572	+0.044%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4574	+0.088%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4574	+0.085%	$815K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4578	+0.172%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4581	+0.240%	$423K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4577	+0.153%	$174K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4573	+0.061%	$69K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4572	+0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4572	+0.044%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4579	+0.197%	$134K	$502K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4570	+0.010%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4570	−0.008%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4577	+0.154%	$42K	$11K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4571	+0.011%	$376	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4585	+0.326%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4581	+0.241%	$297K	$833K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4570	long leg	$3.3M	$3.3M	75x
Phemex ONDOUSDT	+0.0389%	4h	0.4571	+0.022%	$4.6M	$7.0M	50x	as long as short
Lighter ONDO	+0.0400%	1h	0.4580	+0.223%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4573	+0.070%	$545K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4571	+0.018%	$2K	—	20x	as long as short