Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Gate against Extended+0.022%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.022%, 7d avg +0.014%

Together, before fees−0.233%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4523	0.0104	pay 0.0013% / 1h	57m 11s	$405K	$994K	25x
Short	Gate ONDO_USDT	0.4524	0.0100	get 0.0050% / 4h	2h 57m	$11.8M	$18.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.022%Rate

Funding earned: −$0.84
Price spread: +0.022% → +0.014%: $0.81
Slippage, 4 orders: −$31.27
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.3
Costs to cover: 0.513%
Break-even: never at this rate

Slippage from Extended: live order book, 16 min ago; Gate: live order book, 2 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 Extended live order book, 16 min ago	4.47 bp	7.0 bp −$7	17.2 bp −$172	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.10 bp	19.4 bp −$19	35.8 bp −$358	48.8 bp −$4,877	78.3 bp −$39.2K

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	−0.1123%	1h	0.4527	+0.095%	$3.1M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	0.000%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4525	+0.035%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.366%	$994	$82K	5.5x	as long as short
Bybit ONDOUSDT	+0.0044%	4h	0.4526	+0.066%	$73.6M	$117.2M	50x	as long as short
Variational Omni ONDO	+0.0062%	4h	0.4524	+0.013%	$799K	$2.0M	—	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4522	−0.022%	$25K	$8K	10x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4523	+0.003%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4526	+0.066%	$433K	$669K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4530	+0.148%	$40.8M	$27.6M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4532	+0.199%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4527	+0.080%	$66.6M	$221.5M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4527	+0.088%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4556	+0.736%	$73K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4527	+0.079%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4524	+0.022%	$11.8M	$18.6M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4527	+0.088%	$48.3M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4526	+0.066%	$14.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4526	+0.066%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4526	+0.066%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4528	+0.108%	$226K	$941K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4539	+0.364%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4550	+0.597%	$428K	$925K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4541	+0.398%	$160K	$329K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4526	+0.068%	$78K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4524	+0.022%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4533	+0.221%	$125K	$513K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4524	+0.022%	$4.9M	$6.1M	50x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4523	long leg	$405K	$994K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4526	+0.059%	$36K	—	3x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4508	−0.341%	$29K	$220K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4529	+0.137%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0328%	1h	0.4534	+0.239%	$1.4M	$2.2M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4541	+0.398%	$311K	$837K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4522	−0.022%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4524	+0.011%	$563K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4524	+0.012%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.8083%	1h	0.4530	+0.164%	$256K	$117K	5x	as long as short