Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0802%/8h= +87.9% APRpaid last 24h +0.233%

Price spread now: Reya against BloFin−0.380%46s7-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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.380% cheaper against BloFin than usual: you would sell low and buy high (spread −0.380% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 38 hours of funding at the current rate (+$24 a day). The two prices were read 46 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	0.4565	0.0340	pay 0.0170% / 4h	42m 28s	$3.3M	$3.2M	75x
Short	Reya ONDORUSDPERP	0.4548	0.1142	get 0.0143% / 1h	42m 28s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.380%Rate

Funding earned: $168.51
Price spread: −0.380% → 0.000%: −$38.02
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $112.49
Costs to cover: 0.180%
Break-even: 2.3 days

Slippage unknown: BloFin: live order book, 6 min ago; Reya: 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	3.28 bp	9.4 bp −$9	15.7 bp −$157	40.9 bp −$4,094	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0800%	1h	0.4560	−0.118%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.066%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4561	−0.088%	$36K	$436K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4546	−0.411%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4561	−0.088%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4549	−0.350%	$430K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4558	−0.161%	$719K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4550	−0.322%	$68.0M	$227.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4551	−0.307%	$73.8M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4547	−0.394%	$17.7M	$80.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.315%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4550	−0.330%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4549	−0.350%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.372%	$49.3M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4549	−0.350%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4548	−0.372%	$25.7M	$41.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4547	−0.394%	—	$741K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4573	+0.174%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4565	+0.007%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4563	−0.044%	$421K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4564	−0.022%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4551	−0.296%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4563	−0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4560	−0.110%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4571	+0.131%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4563	−0.044%	$4.7M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4551	−0.317%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4550	−0.335%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4563	−0.044%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0168%	1h	0.4562	−0.059%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4573	+0.186%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4574	+0.197%	$300K	$854K	50x	as long as short
Hyperliquid ONDO	+0.0328%	1h	0.4553	−0.256%	$40.4M	$26.9M	10x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4565	long leg	$3.3M	$3.2M	75x
01 Exchange ONDOUSD	+0.0424%	1h	0.4553	−0.261%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4546	−0.425%	$543K	—	100x	as long as short
Lighter ONDO	+0.0928%	1h	0.4567	+0.044%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1142%	1h	0.4548	−0.380%	$2K	—	20x
dYdX ONDO-USD	+0.6087%	1h	0.4560	−0.115%	$258K	$131K	5x	as long as short