Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.081%

Price spread now: Lighter against BloFin+0.152%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now +0.152%, 7d avg +0.070%

Together, before fees−0.364%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.082% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.070%. Mind the row above: over the last 7 days funding on this pair cost −0.233%, 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	0.4541	0.0340	pay 0.0170% / 4h	1h 31m	$3.2M	$3.1M	75x
Short	Lighter ONDO	0.4548	0.0616	get 0.0077% / 1h	31m 18s	$1.4M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.152%Rate

Funding earned: $57.96
Price spread: +0.152% → +0.070%: $8.18
Slippage, 4 orders: −$23.06
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $31.08
Costs to cover: 0.351%
Break-even: 3.2 days

Slippage from BloFin: live order book, 2 min ago; Lighter: 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, 2 min ago	1.10 bp	7.1 bp −$7	11.5 bp −$115	44.6 bp −$4,456	doesn't fit
Sell Lighter live order book, 6 min ago	2.41 bp	4.4 bp −$4	28.6 bp −$286	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	−0.0354%	1h	0.4537	−0.077%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4541	+0.004%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4538	−0.066%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4539	−0.033%	$429K	$699K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4543	+0.044%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4539	−0.044%	$67.1M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4539	−0.044%	$73.9M	$120.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4538	−0.066%	$17.7M	$81.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4538	−0.073%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4544	+0.059%	—	—	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	0.4538	−0.066%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4539	−0.044%	$47.7M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4541	0.000%	$13.7M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4540	−0.022%	$25.7M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4542	+0.022%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4545	+0.092%	$232K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4567	+0.572%	$778K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	+0.316%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4561	+0.438%	$428K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	+0.264%	$161K	$334K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4541	−0.011%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4539	−0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4539	−0.044%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4557	+0.352%	$132K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4539	−0.044%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4547	+0.142%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4537	−0.083%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4541	−0.011%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4569	+0.612%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.595%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0191%	1h	0.4540	−0.022%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.506%	$300K	$864K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4541	long leg	$3.2M	$3.1M	75x
01 Exchange ONDOUSD	+0.0400%	1h	0.4546	+0.121%	$374	$2K	10x	as long as short
Hyperliquid ONDO	+0.0445%	1h	0.4544	+0.073%	$40.7M	$27.6M	10x	as long as short
Lighter ONDOshort	+0.0616%	1h	0.4548	+0.152%	$1.4M	$2.3M	10x
GMX ONDO/USD [ETH-USDC]	L +0.0628% / S −0.0207%	1h	0.4541	+0.002%	$570K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4540	−0.024%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2351%	1h	0.4547	+0.141%	$257K	$129K	5x	as long as short