Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h +0.021%

Price spread now: Hyperliquid against BloFin+0.063%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

Price spread, last 3 days (all we have)+0.079%+$8 · spread now +0.063%, 7d avg +0.068%

Together, before fees−0.036%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.068%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.115%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4602	0.0340	pay 0.0170% / 4h	1h 17m	$3.3M	$3.2M	75x
Short	Hyperliquid ONDO	0.4605	0.0433	get 0.0054% / 1h	17m 06s	$41.4M	$26.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.063%Rate

Funding earned: $19.45
Price spread: +0.063% → +0.068%: −$0.45
Slippage, 4 orders: −$8.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$10.41
Costs to cover: 0.294%
Break-even: 10.7 days

Slippage from BloFin: live order book, 6 min ago; Hyperliquid: live order book, 6 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, 6 min ago	1.09 bp	9.3 bp −$9	14.0 bp −$140	31.6 bp −$3,158	113.4 bp −$56.7K
Sell Hyperliquid live order book, 6 min ago	0.11 bp	5.6 bp −$6	doesn't fit	doesn't fit	doesn't fit

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	−0.0350%	1h	0.4593	−0.200%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.020%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4601	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4606	+0.076%	$435K	$703K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4599	−0.073%	$738K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4593	−0.200%	$67.9M	$227.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4591	−0.239%	$74.7M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4590	−0.261%	$18.0M	$81.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4619	+0.378%	$75K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4605	+0.055%	—	—	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	0.4598	−0.087%	$12.0M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4599	−0.065%	$49.7M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4596	−0.130%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4595	−0.152%	$26.1M	$41.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4600	−0.043%	—	$22.6M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4604	+0.042%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4605	+0.067%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	+0.218%	$425K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.109%	$165K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4605	+0.056%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4601	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4598	−0.087%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4617	+0.326%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4598	−0.087%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4602	0.000%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4595	−0.155%	$411K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4598	−0.084%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0136%	1h	0.4600	−0.052%	$232K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4601	−0.028%	$37K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.739%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	−0.152%	$301K	$874K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4602	long leg	$3.3M	$3.2M	75x
Deribit ONDO_USDC-PERPETUAL	+0.0402%	1h	0.4605	+0.065%	$31K	$432K	25x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4611	+0.189%	$379	$2K	10x	as long as short
Hyperliquid ONDOshort	+0.0433%	1h	0.4605	+0.063%	$41.4M	$26.5M	10x
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0187%	1h	0.4601	−0.030%	$549K	—	100x	as long as short
Lighter ONDO	+0.0696%	1h	0.4610	+0.163%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4602	+0.003%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4309%	1h	0.4600	−0.046%	$260K	$129K	5x	as long as short