Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −18.0% APRnext payment −$0.20 per $10,000 · paid last 24h —

Price spread now: RISEx against Coinbase International−0.301%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and RISEx is 0.301% cheaper against Coinbase International than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4327	0.0264	pay 0.0033% / 1h	30m 34s	$214K	$726K	50x
Short	RISEx ONDO/USDC	0.4314	0.0100	get 0.0013% / 1h	30m 34s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.301%Rate

Funding earned: −$34.44
Price spread: −0.301% → 0.000%: −$30.05
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$80.49
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 13 min ago; RISEx: 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 Coinbase International live order book, 13 min ago	9.25 bp	23.2 bp −$23	76.9 bp −$769	doesn't fit	doesn't fit
Sell RISEx no order-book sample	—	—	—	—	—

RISEx: 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	−0.0147%	1h	0.4313	−0.320%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4313	−0.324%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0005%	1h	0.4314	−0.294%	$242K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.570%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4318	−0.213%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4312	−0.347%	$346K	$899K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4316	−0.254%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4316	−0.246%	$62.5M	$236.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4315	−0.277%	$67.5M	$124.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4316	−0.254%	$17.1M	$72.5M	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	0.4306	−0.483%	$71K	$81K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4314	−0.301%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4313	−0.324%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4314	−0.300%	$42.8M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4314	−0.300%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4314	−0.300%	$24.7M	$39.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4315	−0.277%	—	$773K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	−0.273%	$171K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.329%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.250%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	−0.253%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	−0.231%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4316	−0.254%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4313	−0.324%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4315	−0.277%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4315	−0.277%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4325	−0.046%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4314	−0.300%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4315	−0.284%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0103%	1h	0.4317	−0.222%	$36.2M	$27.2M	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4314	−0.301%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4316	−0.254%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4317	−0.231%	$355	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4315	−0.277%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0264%	1h	0.4327	long leg	$214K	$726K	50x
Phoenix ONDO	+0.0313%	1h	0.4316	−0.252%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	−0.254%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	−0.335%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4314	−0.306%	$2K	—	20x	as long as short