Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h —

Price spread now: RISEx against Deribit+0.039%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 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

The price spread pays, funding is against you. RISEx is 0.039% dearer against Deribit than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4376	0.0207	pay 0.0026% / 1h	28m 53s	$18K	$367K	25x
Short	RISEx ONDO/USDC	0.4378	0.0100	get 0.0013% / 1h	28m 53s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$22.47
Price spread: +0.039% → 0.000%: $3.86
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$31.61
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 25 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 Deribit live order book, 25 min ago	6.80 bp	14.5 bp −$15	doesn't fit	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	−0.0160%	1h	0.4375	−0.023%	$2.6M	$7.7M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4381	+0.112%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4378	+0.040%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.388%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4381	+0.107%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4375	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4381	+0.109%	$362K	$842K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4377	+0.024%	$63.3M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4374	−0.046%	$68.0M	$124.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4376	0.000%	$17.2M	$72.4M	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	0.4388	+0.274%	$72K	$84K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4378	+0.039%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4375	−0.023%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4376	0.000%	$43.8M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4376	0.000%	$12.7M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4377	+0.023%	$25.1M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4376	0.000%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4376	+0.011%	$184K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	+0.314%	$717K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4389	+0.294%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	+0.341%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4390	+0.320%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4379	+0.066%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4379	+0.069%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4378	+0.046%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4384	+0.183%	$129K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4379	+0.069%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4378	+0.056%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4375	−0.018%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4377	+0.034%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4379	+0.062%	$360	$2K	10x	as long as short
Aster ONDOUSDT	+0.0193%	4h	0.4380	+0.089%	$787K	$2.6M	20x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0207%	1h	0.4376	long leg	$18K	$367K	25x
Hyperliquid ONDO	+0.0239%	1h	0.4380	+0.089%	$37.6M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	+0.320%	$260K	$718K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4385	+0.194%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4383	+0.160%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0557% / S −0.0193%	1h	0.4377	+0.016%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4379	+0.066%	$2K	—	20x	as long as short