Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0332%/8h= −36.3% APRpaid last 24h −0.100%

Price spread now: gTrade (Gains Network) against BloFin−0.084%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and gTrade (Gains Network) is 0.084% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4556	0.0340	pay 0.0170% / 4h	1h 27m	$3.3M	$3.1M	75x
Short	gTrade (Gains Network) ONDO/USD	0.4552	L +0.0003% / S −0.0008%	get 0.0001% / 1h	27m 30s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.084%Rate

Funding earned: −$69.63
Price spread: −0.084% → 0.000%: −$8.38
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$100.02
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 6 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 6 min ago	1.10 bp	7.1 bp −$7	11.5 bp −$115	44.6 bp −$4,456	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0354%	1h	0.4547	−0.188%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0008%	1h	0.4552	−0.084%	$6K	—	150x
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.132%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4572	+0.362%	$431K	$700K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4564	+0.185%	$731K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4574	+0.387%	$67.6M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4575	+0.417%	$74.5M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4575	+0.417%	$17.8M	$81.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4557	+0.022%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4568	+0.261%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4562	+0.132%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4567	+0.241%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4559	+0.066%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4576	+0.439%	$25.9M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4566	+0.219%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.138%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.375%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4554	−0.040%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4558	+0.048%	$427K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4556	0.000%	$163K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4576	+0.437%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.176%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.154%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.219%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	+0.223%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4568	+0.256%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	−0.076%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.033%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.263%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.110%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.176%	$300K	$864K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4556	long leg	$3.3M	$3.1M	75x
01 Exchange ONDOUSD	+0.0400%	1h	0.4578	+0.476%	$377	$2K	10x	as long as short
Hyperliquid ONDO	+0.0423%	1h	0.4580	+0.516%	$41.0M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	−0.084%	$568K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4568	+0.263%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4575	+0.425%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3050%	1h	0.4555	−0.030%	$258K	$129K	5x	as long as short