Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0238%/8h= −26.0% APRpaid last 24h −1.392%

Price spread now: KuCoin against dYdX+0.019%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$397as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1271.269% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−2.706%−$271 on $10k

Price spread, last 4 days (all we have)−0.135%−$14 · spread now +0.019%, 7d avg +0.031%

Together, before fees−2.841%−$284 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4392	0.0338	pay 0.0042% / 1h	24m 05s	$249K	$129K	5x
Short	KuCoin ONDOUSDTM	0.4393	0.0100	get 0.0050% / 4h	24m 05s	$12.7M	$10.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$49.9
Price spread: +0.019% → +0.031%: −$1.24
Slippage, 4 orders: −$104.85
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$177.99
Costs to cover: 1.269%
Break-even: never at this rate

Slippage from dYdX: live order book, 35 min ago; KuCoin: live order book, 5 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, 35 min ago	27.22 bp	34.2 bp −$34	94.8 bp −$948	148.1 bp −$14.8K	610.8 bp −$305.4K
Sell KuCoin live order book, 5 min ago	1.14 bp	16.9 bp −$17	31.2 bp −$312	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4393	+0.017%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4392	−0.002%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.003%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4397	+0.108%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4392	−0.004%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4391	−0.015%	$363K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4396	+0.094%	$37.6M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4392	−0.008%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4389	−0.072%	$67.9M	$126.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	−0.049%	$17.1M	$73.2M	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	0.4398	+0.133%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4392	−0.015%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4391	−0.027%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4394	+0.042%	$44.4M	$42.0M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4393	+0.019%	$12.7M	$10.7M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4390	−0.049%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4394	+0.042%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4394	+0.042%	$188K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.193%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	−0.092%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4393	+0.017%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.072%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.051%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4395	+0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4395	+0.065%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4399	+0.156%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	+0.019%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4394	+0.037%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4392	−0.002%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	+0.070%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4394	+0.051%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0229%	4h	0.4394	+0.042%	$739K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4404	+0.269%	$272K	$730K	50x	as long as short
dYdX ONDO-USDlong	+0.0338%	1h	0.4392	long leg	$249K	$129K	5x
BloFin ONDO-USDT	+0.0340%	4h	0.4392	−0.004%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4392	−0.013%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0433%	1h	0.4394	+0.042%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4392	+0.003%	$522K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4394	+0.041%	$2K	—	20x	as long as short