Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −1.382%

Price spread now: HTX against dYdX+0.619%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs−$599as in the Funding arb table

Net, price: spread back to 7d avg − costs−$281as in the Price arb table

costs, in and out, $10k−$3273.272% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.713%−$271 on $10k

Price spread, last 4 days (all we have)−0.664%−$66 · spread now +0.619%, 7d avg +0.162%

Together, before fees−3.378%−$338 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.457% dearer against dYdX than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.162%. Mind the row above: over the last 7 days funding on this pair cost −2.713%, 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	dYdX ONDO-USD	0.4313	0.0020	pay 0.0002% / 1h	34m 19s	$242K	$137K	5x
Short	HTX ONDO-USDT	0.4340	0.0100	get 0.0050% / 4h	2h 34m	$128K	$429K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.619%Rate

Funding earned: $16.9
Price spread: +0.619% → +0.162%: $45.7
Slippage, 4 orders: −$305.2
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$264.6
Costs to cover: 3.272%
Break-even: 116.6 days

Slippage from dYdX: live order book, 15 min ago; HTX: live order book, 14 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 dYdX live order book, 15 min ago	24.14 bp	35.8 bp −$36	117.2 bp −$1,172	167.4 bp −$16.7K	746.2 bp −$373.1K
Sell HTX live order book, 14 min ago	10.35 bp	16.3 bp −$16	doesn't fit	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	−0.0241%	1h	0.4332	+0.436%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4309	−0.100%	$7K	—	150x	as long as short
dYdX ONDO-USDlong	+0.0020%	1h	0.4313	long leg	$242K	$137K	5x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.905%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0064%	1h	0.4313	−0.019%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4316	+0.060%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4314	+0.016%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4312	−0.028%	$36.0M	$26.0M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4314	+0.016%	$776K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4312	−0.031%	$62.0M	$235.6M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4308	−0.123%	$67.2M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4309	−0.100%	$17.2M	$73.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	+0.021%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4311	−0.057%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4311	−0.054%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4311	−0.054%	$42.9M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4310	−0.077%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4310	−0.077%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4310	−0.077%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	+0.392%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	+0.151%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	+0.062%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4321	+0.168%	$400K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4316	+0.062%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4312	−0.028%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4309	−0.100%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	+0.433%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	+0.503%	$451	$13K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4340	+0.619%	$128K	$429K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4332	+0.433%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	−0.039%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4311	−0.057%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4311	−0.054%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4310	−0.077%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.758%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	−0.012%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	+0.433%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4308	−0.119%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4311	−0.053%	$2K	—	20x	as long as short