Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: Gate against GRVT−0.202%66s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$590.588% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.202%, 7d avg −0.026%

Together, before fees+0.085%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.176% cheaper against GRVT than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.026%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4454	0.0100	pay 0.0050% / 4h	2h 54m	$419K	$965K	10x
Short	Gate ONDO_USDT	0.4445	0.0100	get 0.0050% / 4h	2h 54m	$11.7M	$15.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against GRVT. 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 GRVTbpFee GatebpOrdersPrice spread, now −0.202%Rate

Funding earned: $0
Price spread: −0.202% → −0.026%: −$17.58
Slippage, 4 orders: −$34.79
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.37
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from GRVT: live order book, 14 min ago; Gate: live order book, 4 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 GRVT live order book, 14 min ago	3.26 bp	7.8 bp −$8	36.8 bp −$368	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.23 bp	19.5 bp −$20	39.3 bp −$393	50.9 bp −$5,087	80.4 bp −$40.2K

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
ApeX Omni ONDOUSDT	−0.1599%	1h	0.4475	+0.471%	$167K	$332K	50x	as long as short
Kraken Futures PF_ONDOUSD	−0.0359%	1h	0.4453	−0.017%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4454	+0.007%	$252K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4447	−0.157%	$32K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4444	−0.223%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.559%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4448	−0.135%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4447	−0.152%	$407K	$781K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4448	−0.128%	$39.4M	$25.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4447	−0.162%	$704K	$2.1M	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	0.4448	−0.141%	$65.6M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4448	−0.135%	$71.3M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4448	−0.135%	$17.1M	$76.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4462	+0.188%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4442	−0.279%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4445	−0.202%	$11.7M	$15.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4446	−0.180%	$45.3M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4441	−0.292%	$13.5M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4453	−0.023%	$25.1M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4447	−0.157%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4460	+0.123%	$225K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4454	−0.004%	$789K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4475	+0.464%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4454	long leg	$419K	$965K	10x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4450	−0.099%	$116K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4454	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4456	+0.045%	$463	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4468	+0.314%	$130K	$499K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4448	−0.124%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4453	−0.023%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4446	−0.190%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4508	+1.208%	$37K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4445	−0.214%	$366	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4454	0.000%	$290K	$798K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4457	+0.067%	$3.3M	$3.0M	75x	as long as short
Lighter ONDO	+0.0528%	1h	0.4462	+0.191%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0186%	1h	0.4444	−0.231%	$531K	—	100x	as long as short
Phemex ONDOUSDT	+0.0760%	4h	0.4464	+0.224%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4445	−0.196%	$2K	—	20x	as long as short