Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1038%/8h= +113.7% APRpaid last 24h +0.307%

Price spread now: Reya against Gate+0.039%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Reya

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 airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Reya is 0.039% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread 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	Gate ONDO_USDT	0.4527	0.0100	pay 0.0050% / 4h	2h 32m	$11.8M	$18.7M	50x
Short	Reya ONDORUSDPERP	0.4529	0.1138	get 0.0142% / 1h	32m 16s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.039%Rate

Funding earned: $218.08
Price spread: +0.039% → 0.000%: $3.93
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $201.01
Costs to cover: 0.210%
Break-even: 0.5 days

Slippage unknown: Gate: live order book, 1 min ago; Reya: 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 Gate live order book, 1 min ago	1.10 bp	16.2 bp −$16	33.0 bp −$330	50.0 bp −$5,004	80.1 bp −$40.0K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.1123%	1h	0.4530	+0.058%	$3.0M	$7.6M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4529	+0.044%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	+0.033%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.137%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.110%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4528	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4529	+0.044%	$426K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4530	+0.066%	$760K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4528	+0.030%	$66.6M	$219.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4529	+0.044%	$73.5M	$117.9M	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	0.4529	+0.044%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4531	+0.084%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4529	+0.051%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4527	long leg	$11.8M	$18.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4528	+0.022%	$47.7M	$45.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4527	0.000%	$13.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4528	+0.022%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4527	0.000%	—	$745K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4530	+0.071%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4528	+0.030%	$791K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4531	+0.084%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4535	+0.169%	$418K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4536	+0.199%	$160K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4530	+0.055%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4528	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4529	+0.044%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4538	+0.243%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4528	+0.022%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4530	+0.064%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4529	+0.033%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4531	+0.099%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0193%	1h	0.4534	+0.146%	$40.8M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	+0.155%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4533	+0.133%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4532	+0.110%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0520%	1h	0.4536	+0.205%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0619% / S −0.0203%	1h	0.4527	−0.007%	$563K	—	100x	as long as short
Reya ONDORUSDPERPshort	+0.1138%	1h	0.4529	+0.039%	$2K	—	20x
dYdX ONDO-USD	+0.9656%	1h	0.4529	+0.052%	$256K	$123K	5x	as long as short