Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0327%/8h= −35.8% APRpaid last 24h −0.008%

Price spread now: Paradex against Deribit+0.216%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.216% dearer against Deribit than usual: you sell high and buy low (spread +0.216% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4399	0.0432	pay 0.0054% / 1h	36m 26s	$23K	$349K	25x
Short	Paradex ONDO-USD-PERP	0.4409	0.0105	get 0.0105% / 8h	5h 36m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now +0.216%Rate

Funding earned: −$68.73
Price spread: +0.216% → 0.000%: $21.64
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$58.09
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Deribit: live order book, 27 min ago; Paradex: 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 Deribit live order book, 27 min ago	6.80 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
dYdX ONDO-USD	0.0000%	1h	0.4403	+0.100%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	+0.223%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.842%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4397	−0.042%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4410	+0.250%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4406	+0.159%	$373K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	+0.274%	$64.1M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4410	+0.250%	$69.6M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4412	+0.296%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4396	−0.077%	$72K	$86K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4404	+0.108%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4404	+0.114%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4406	+0.159%	$46.8M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4404	+0.114%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4406	+0.159%	$25.1M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4409	+0.227%	—	$758K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4395	−0.099%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4396	−0.063%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4389	−0.220%	$405K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	−0.159%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	+0.191%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4401	+0.045%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4399	0.000%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4410	+0.250%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4402	+0.068%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4406	+0.166%	$397K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4401	+0.048%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERPshort	+0.0105%	8h	0.4409	+0.216%	$6K	—	10x
Aster ONDOUSDT	+0.0131%	4h	0.4409	+0.235%	$712K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0161%	1h	0.4408	+0.207%	$38.3M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0181%	1h	0.4404	+0.111%	$190K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.032%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4400	+0.023%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4400	+0.023%	$282K	$702K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4409	+0.223%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0432%	1h	0.4399	long leg	$23K	$349K	25x
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4408	+0.205%	$485K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4415	+0.361%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4407	+0.180%	$2K	—	20x	as long as short