Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Paradex against gTrade (Gains Network)−0.052%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.052% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ONDO/USD	0.4513	L +0.0003% / S −0.0008%	pay 0.0000% / 1h	7m 50s	$6K	—	150x
Short	Paradex ONDO-USD-PERP	0.4511	0.0100	get 0.0100% / 8h	2h 07m	$6K	$9	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee ParadexbpOrdersPrice spread, now −0.052%Rate

Funding earned: $20.32
Price spread: −0.052% → 0.000%: −$5.17
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $1.15
Costs to cover: 0.140%
Break-even: 6.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Paradex: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Paradex: 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	−0.1127%	1h	0.4511	−0.049%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4515	+0.044%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0008%	1h	0.4513	long leg	$6K	—	150x
Phoenix ONDO	+0.0018%	1h	0.4500	−0.297%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.199%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4513	0.000%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4515	+0.050%	$423K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4516	+0.066%	$760K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4512	−0.029%	$66.4M	$221.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4511	−0.044%	$73.1M	$118.2M	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	0.4512	−0.022%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4520	+0.153%	$71K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4514	+0.030%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4511	−0.044%	$11.8M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4512	−0.022%	$47.2M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4511	−0.044%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4511	−0.044%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4511	−0.044%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4513	+0.009%	$193K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4506	−0.147%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4507	−0.133%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4517	+0.083%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4508	−0.111%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4516	+0.075%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4517	+0.089%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4514	+0.022%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4521	+0.177%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4514	+0.022%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0100%	8h	0.4511	−0.052%	$6K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4512	−0.030%	$401K	$948K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4516	+0.076%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0283%	1h	0.4517	+0.091%	$40.3M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.576%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	−0.022%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4521	+0.173%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0536%	1h	0.4523	+0.213%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0191%	1h	0.4513	0.000%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4514	+0.023%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9256%	1h	0.4512	−0.024%	$255K	$129K	5x	as long as short