Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.470%

Price spread now: Injective against GRVT+4.268%7-day average −0.843% · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.425%−$342 on $10k

Price spread, last 4 days (all we have)−4.782%−$478 · spread now +4.268%, 7d avg −0.843%

Together, before fees−8.207%+ Points / potential airdropGRVT: Active · farm board−$821 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 5.112% dearer against GRVT than usual: you sell high and buy low (spread +4.268% now, against its 7-day average of −0.843%): +$511 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9 months. At the pace of the last 7 days (−3.425% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4381	0.0100	pay 0.0050% / 4h	3m 00s	$408K	$1.1M	10x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	3m 00s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +4.268%Rate

Funding earned: −$14
Price spread: +4.268% → −0.843%: $511.16
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $488.14
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 5 min ago; Injective: 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 GRVT live order book, 5 min ago	3.42 bp	14.5 bp −$14	37.4 bp −$374	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4390	+0.215%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4391	+0.230%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+4.268%	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4396	+0.342%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4391	+0.228%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4391	+0.240%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4394	+0.297%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4392	+0.251%	$68.0M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4394	+0.297%	$17.1M	$73.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4386	+0.121%	$72K	$84K	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	0.4391	+0.231%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4392	+0.251%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4393	+0.274%	$44.6M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4392	+0.251%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4393	+0.274%	$25.2M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4392	+0.251%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4394	+0.288%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.166%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4375	−0.130%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4381	long leg	$408K	$1.1M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4375	−0.137%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4392	+0.260%	$79K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	+0.274%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4394	+0.297%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4400	+0.434%	$127K	$436K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	+0.274%	$4.3M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4393	+0.278%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4392	+0.257%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4394	+0.304%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4396	+0.349%	$37.8M	$24.7M	10x	as long as short
dYdX ONDO-USD	+0.0211%	1h	0.4387	+0.132%	$248K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4393	+0.278%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0218%	4h	0.4393	+0.274%	$760K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4393	+0.274%	$271K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.297%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4379	−0.046%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4391	+0.218%	$522K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0661%	1h	0.4395	+0.320%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4393	+0.268%	$2K	—	20x	as long as short