Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: GRVT against Extended−0.224%92s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.322% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)+1.015%+$101 · spread now −0.224%, 7d avg +0.038%

Together, before fees+0.977%+ Points / potential airdropExtended: Active · GRVT: Active · farm board+$98 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.263% cheaper against Extended than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4395	0.0104	pay 0.0013% / 1h	5m 39s	$396K	$824K	25x
Short	GRVT ONDO_USDT_Perp	0.4386	0.0100	get 0.0050% / 4h	2h 05m	$404K	$978K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.224%Rate

Funding earned: −$0.84
Price spread: −0.224% → +0.038%: −$26.28
Slippage, 4 orders: −$18.23
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$59.35
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Extended: live order book, 62 min ago; GRVT: live order book, 62 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, 62 min ago	4.35 bp	6.8 bp −$7	16.0 bp −$160	doesn't fit	doesn't fit
Sell GRVT live order book, 62 min ago	3.26 bp	10.8 bp −$11	43.5 bp −$435	doesn't fit	doesn't fit

ONDO on 38 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	−0.0363%	1h	0.4394	−0.030%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4393	−0.053%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4391	−0.102%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.926%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4395	−0.010%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	−0.067%	$379K	$840K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4397	+0.027%	$669K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4397	+0.035%	$63.8M	$228.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4398	+0.058%	$69.7M	$124.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4397	+0.035%	$17.0M	$74.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.158%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.062%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.056%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4398	+0.058%	$46.5M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4396	+0.012%	$13.1M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4397	+0.035%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4396	+0.012%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4393	−0.062%	$761K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4383	−0.288%	$4K	$319K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4386	−0.224%	$404K	$978K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.397%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	−0.029%	$90K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4394	−0.033%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4397	+0.035%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4403	+0.172%	$129K	$497K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4398	+0.048%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4395	long leg	$396K	$824K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.046%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0168%	1h	0.4395	−0.006%	$196K	$995K	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4395	−0.010%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0231%	1h	0.4400	+0.101%	$38.6M	$24.1M	10x	as long as short
Phemex ONDOUSDT	+0.0247%	4h	0.4396	+0.012%	$4.2M	$7.5M	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.604%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4391	−0.108%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4396	+0.015%	$362	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0549% / S −0.0190%	1h	0.4390	−0.129%	$484K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4404	+0.194%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4393	−0.046%	$2K	—	20x	as long as short