Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Extended−0.123%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.123%, 7d avg +0.061%

Together, before fees+0.145%+ Points / potential airdropExtended: Active · farm board+$14 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: KuCoin is 0.184% cheaper against Extended than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4345	0.0104	pay 0.0013% / 1h	14m 18s	$391K	$795K	25x
Short	KuCoin ONDOUSDTM	0.4340	0.0100	get 0.0050% / 4h	2h 14m	$12.0M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$0.84
Price spread: −0.123% → +0.061%: −$18.4
Slippage, 4 orders: −$29.59
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$65.83
Costs to cover: 0.466%
Break-even: never at this rate

Slippage from Extended: live order book, 34 min ago; KuCoin: live order book, 4 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, 34 min ago	3.45 bp	6.0 bp −$6	14.7 bp −$147	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.15 bp	16.2 bp −$16	34.9 bp −$349	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	−0.0240%	1h	0.4343	−0.043%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4342	−0.072%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0011%	1h	0.4336	−0.210%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.124%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4344	−0.033%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4344	−0.043%	$349K	$883K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4346	+0.013%	$36.3M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	−0.009%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4344	−0.029%	$62.9M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4342	−0.077%	$67.7M	$126.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4345	−0.008%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.307%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4341	−0.107%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4341	−0.100%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4343	−0.054%	$43.4M	$42.6M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4340	−0.123%	$12.0M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4344	−0.031%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4343	−0.054%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	−0.176%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	−0.266%	$639K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4343	−0.064%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	−0.099%	$411K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4343	−0.054%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	−0.036%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4344	−0.031%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4342	−0.077%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	+0.038%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4345	−0.008%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	−0.192%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4341	−0.092%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4345	long leg	$391K	$795K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4348	+0.061%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4343	−0.061%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4344	−0.031%	$218K	$761K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.017%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4340	−0.123%	$2.5M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4342	−0.079%	$495K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0671%	1h	0.4347	+0.038%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4343	−0.054%	$2K	—	20x	as long as short