Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.003%

Price spread now: Orderly against Extended−0.035%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.035% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4570	0.0104	pay 0.0013% / 1h	6m 17s	$409K	$844K	25x
Short	Orderly PERP_ONDO_USDC	0.4568	0.0098	get 0.0049% / 4h	6m 17s	$25K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.035%Rate

Funding earned: −$1.28
Price spread: −0.035% → 0.000%: −$3.52
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$15.8
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 7 min ago; Orderly: no order-book sample. Net counts fees only.

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, 7 min ago	3.29 bp	5.8 bp −$6	13.9 bp −$139	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0798%	1h	0.4572	+0.042%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.035%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4571	+0.030%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4570	+0.012%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0098%	4h	0.4568	−0.035%	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4572	+0.058%	$439K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4574	+0.090%	$40.4M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4572	+0.057%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4571	+0.026%	$68.3M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4570	+0.009%	$74.1M	$120.6M	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	0.4570	+0.009%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4572	+0.044%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4572	+0.044%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4567	−0.057%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4568	−0.035%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4571	+0.030%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4570	+0.009%	$25.8M	$40.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4570	+0.009%	—	$741K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4575	+0.114%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	−0.038%	$809K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4566	−0.089%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4566	−0.083%	$421K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	−0.101%	$173K	$310K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	+0.111%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	−0.079%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4572	+0.052%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4574	+0.096%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	+0.052%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4572	+0.056%	$7K	$9	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4570	long leg	$409K	$844K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4572	+0.053%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	−0.096%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4575	+0.107%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.140%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4569	−0.013%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4569	−0.015%	$545K	—	100x	as long as short
Lighter ONDO	+0.0672%	1h	0.4581	+0.254%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4568	−0.039%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2612%	1h	0.4570	+0.015%	$259K	$132K	5x	as long as short