Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.156%

Price spread now: GRVT against Coinbase International−0.303%7-day average −0.252% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$680.677% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.776%−$78 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.303%, 7d avg −0.252%

Together, before fees−0.741%+ Points / potential airdropGRVT: Active · farm board−$74 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.051% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.252%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4617	0.0280	pay 0.0035% / 1h	16m 19s	$299K	$819K	50x
Short	GRVT ONDO_USDT_Perp	0.4603	0.0100	get 0.0050% / 4h	3h 16m	$432K	$960K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.303%Rate

Funding earned: −$37.8
Price spread: −0.303% → −0.252%: −$5.12
Slippage, 4 orders: −$48.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$110.58
Costs to cover: 0.677%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 57 min ago; GRVT: live order book, 57 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, 57 min ago	8.77 bp	25.9 bp −$26	46.2 bp −$462	doesn't fit	doesn't fit
Sell GRVT live order book, 57 min ago	3.28 bp	13.9 bp −$14	34.3 bp −$343	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	−0.0868%	1h	0.4601	−0.336%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4603	−0.297%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4610	−0.150%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.061%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4615	−0.043%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4611	−0.125%	$432K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4614	−0.065%	$736K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4613	−0.090%	$69.2M	$221.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4615	−0.043%	$74.4M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4615	−0.043%	$17.7M	$78.3M	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	0.4593	−0.511%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4609	−0.183%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4610	−0.152%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4611	−0.130%	$49.8M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4613	−0.087%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4611	−0.130%	$26.1M	$38.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4611	−0.130%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4607	−0.221%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4605	−0.266%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4606	−0.245%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4603	−0.303%	$432K	$960K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	−0.282%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4612	−0.104%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4607	−0.217%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4602	−0.325%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4611	−0.130%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4600	−0.368%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4613	−0.091%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4612	−0.113%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4620	+0.054%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0185%	1h	0.4602	−0.325%	$34K	$346K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.624%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4618	+0.028%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0280%	1h	0.4617	long leg	$299K	$819K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4602	−0.325%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0345%	1h	0.4616	−0.031%	$41.0M	$25.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4611	−0.135%	$550K	—	100x	as long as short
Lighter ONDO	+0.0640%	1h	0.4617	+0.006%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4609	−0.184%	$2K	—	20x	as long as short