Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.075%

Price spread now: BloFin against Coinbase International−0.328%7-day average −0.194% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$630.626% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.352%−$35 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.328%, 7d avg −0.194%

Together, before fees−0.313%−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.134% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.328% now, against its 7-day average of −0.194%). If the spread goes back, that is −$13 on $10k: about 7.4 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.352%, 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	Coinbase International ONDO-PERP-INTX	0.4574	0.0280	pay 0.0035% / 1h	34m 43s	$301K	$867K	50x
Short	BloFin ONDO-USDT	0.4559	0.0340	get 0.0170% / 4h	1h 34m	$3.2M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.328%Rate

Funding earned: $12.6
Price spread: −0.328% → −0.194%: −$13.39
Slippage, 4 orders: −$40.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$63.39
Costs to cover: 0.626%
Break-even: 42.2 days

Slippage from Coinbase International: live order book, 49 min ago; BloFin: live order book, 4 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 Coinbase International live order book, 49 min ago	5.53 bp	12.7 bp −$13	68.1 bp −$681	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	4.36 bp	11.5 bp −$12	16.2 bp −$162	41.8 bp −$4,185	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	−0.0353%	1h	0.4554	−0.440%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4559	−0.322%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4556	−0.394%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.328%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4554	−0.446%	$739K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4563	−0.245%	$67.4M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4563	−0.240%	$74.4M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4562	−0.262%	$17.8M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	−0.026%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.421%	—	—	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	0.4559	−0.328%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4562	−0.262%	$47.9M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4560	−0.306%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4561	−0.284%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4561	−0.284%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4559	−0.321%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4567	−0.154%	$778K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4571	−0.070%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	−0.039%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	−0.238%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4554	−0.437%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4556	−0.394%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4565	−0.197%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4556	−0.394%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4562	−0.269%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4560	−0.306%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4558	−0.339%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	−0.199%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.131%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4557	−0.372%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.006%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0280%	1h	0.4574	long leg	$301K	$867K	50x
BloFin ONDO-USDTshort	+0.0340%	4h	0.4559	−0.328%	$3.2M	$3.1M	75x
01 Exchange ONDOUSD	+0.0408%	1h	0.4563	−0.236%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0476%	1h	0.4561	−0.293%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0584%	1h	0.4573	−0.020%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0637% / S −0.0211%	1h	0.4559	−0.334%	$578K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4563	−0.241%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1748%	1h	0.4565	−0.187%	$258K	$130K	5x	as long as short