Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Phemex against Gate+0.023%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

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

costs, in and out, $10k−$630.633% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.023%, 7d avg +0.042%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4336	0.0100	pay 0.0050% / 4h	3h 11m	$12.0M	$16.4M	50x
Short	Phemex ONDOUSDT	0.4337	0.0100	get 0.0050% / 4h	3h 11m	$4.2M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.042%: −$1.88
Slippage, 4 orders: −$36.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.19
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Phemex: 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 Gate live order book, 2 min ago	1.15 bp	15.6 bp −$16	35.0 bp −$350	47.1 bp −$4,708	77.8 bp −$38.9K
Sell Phemex live order book, 2 min ago	5.75 bp	17.5 bp −$17	23.1 bp −$231	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	−0.0162%	1h	0.4333	−0.062%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4336	−0.004%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.351%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.157%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4335	−0.023%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4337	+0.023%	$358K	$856K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4336	0.000%	$62.6M	$232.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4333	−0.069%	$67.4M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	−0.023%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4331	−0.122%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4336	+0.001%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4336	long leg	$12.0M	$16.4M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4338	+0.046%	$42.7M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4338	+0.046%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4334	−0.046%	$24.8M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4337	+0.023%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4335	−0.012%	$180K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	+0.340%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4348	+0.271%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4349	+0.302%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4346	+0.231%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	−0.023%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4338	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	0.000%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4341	+0.115%	$128K	$427K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4337	+0.023%	$4.2M	$8.0M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4337	+0.030%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4336	+0.011%	$391K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	+0.012%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0143%	4h	0.4339	+0.060%	$784K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0148%	1h	0.4338	+0.048%	$36.8M	$25.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4335	−0.023%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4335	−0.023%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4343	+0.161%	$219K	$765K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4356	+0.457%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4349	+0.300%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4336	−0.008%	$483K	—	100x	as long as short
dYdX ONDO-USD	+0.1131%	1h	0.4335	−0.018%	$245K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4334	−0.035%	$2K	—	20x	as long as short