Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Gate+0.113%48s7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as 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−$500.499% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.356%+$36 · spread now +0.113%, 7d avg +0.102%

Together, before fees+0.405%+$40 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	0.4521	0.0100	pay 0.0050% / 4h	2h 56m	$11.8M	$18.6M	50x
Short	Polymarket Perps ONDO-USD	0.4526	0.0100	get 0.0013% / 1h	56m 43s	$78K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.113%Rate

Funding earned: $0
Price spread: +0.113% → +0.102%: $1.04
Slippage, 4 orders: −$26.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$48.86
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Polymarket Perps: live order book, 1 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	1.10 bp	17.9 bp −$18	38.4 bp −$384	52.6 bp −$5,262	82.0 bp −$41.0K
Sell Polymarket Perps live order book, 1 min ago	1.88 bp	5.9 bp −$6	7.3 bp −$73	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	−0.1123%	1h	0.4527	+0.139%	$3.1M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	+0.044%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4525	+0.079%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.322%	$994	$82K	5.5x	as long as short
Variational Omni ONDO	+0.0062%	4h	0.4524	+0.057%	$799K	$2.0M	—	as long as short
Bybit ONDOUSDT	+0.0068%	4h	0.4526	+0.111%	$73.6M	$116.7M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4522	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4526	+0.111%	$433K	$669K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4531	+0.215%	$40.8M	$27.7M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4530	+0.199%	$757K	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4527	+0.129%	$66.7M	$221.5M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4520	−0.022%	$17.7M	$79.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4556	+0.781%	$73K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4521	−0.009%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4521	long leg	$11.8M	$18.6M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4526	+0.111%	$48.3M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4523	+0.044%	$14.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4522	+0.022%	$25.5M	$41.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4522	+0.022%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4528	+0.153%	$226K	$941K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4539	+0.409%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4550	+0.641%	$428K	$925K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4541	+0.442%	$160K	$329K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4526	+0.113%	$78K	$1.0M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4523	+0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4524	+0.066%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4533	+0.265%	$125K	$513K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4524	+0.066%	$4.9M	$6.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4520	−0.021%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4520	−0.022%	$405K	$994K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4526	+0.103%	$36K	—	3x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4508	−0.296%	$29K	$220K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4523	+0.042%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0320%	1h	0.4533	+0.265%	$1.4M	$2.2M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4541	+0.442%	$311K	$837K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4522	+0.022%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4524	+0.056%	$563K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4524	+0.056%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.8770%	1h	0.4530	+0.198%	$256K	$117K	5x	as long as short