Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0968%/8h= −106.0% APRpaid last 24h +0.154%

Price spread now: Kraken Futures against GRVT−0.272%7-day average +0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$730.727% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.301%+$30 on $10k

Price spread, last 3 days (all we have)+0.364%+$36 · spread now −0.272%, 7d avg +0.086%

Together, before fees+0.665%+ Points / potential airdropGRVT: Active · farm board+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Kraken Futures is 0.358% cheaper against GRVT than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.086%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.301%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.301% in total (about 15.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4614	0.0100	pay 0.0050% / 4h	3h 09m	$426K	$967K	10x
Short	Kraken Futures PF_ONDOUSD	0.4601	−0.0868	pay 0.0109% / 1h	9m 39s	$2.8M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.272%Rate

Funding earned: −$203.29
Price spread: −0.272% → +0.086%: −$35.83
Slippage, 4 orders: −$53.73
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$311.85
Costs to cover: 0.727%
Break-even: never at this rate

Slippage from GRVT: live order book, 63 min ago; Kraken Futures: 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, 63 min ago	3.28 bp	14.1 bp −$14	24.3 bp −$243	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	8.67 bp	19.2 bp −$19	29.9 bp −$299	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_ONDOUSDshort	−0.0868%	1h	0.4601	−0.272%	$2.8M	$7.9M	50x
dYdX ONDO-USD	0.0000%	1h	0.4602	−0.250%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4603	−0.231%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.989%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4603	−0.231%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4609	−0.095%	$432K	$706K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4604	−0.213%	$68.9M	$220.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4603	−0.231%	$74.2M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4606	−0.166%	$17.6M	$77.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4625	+0.250%	$73K	$92K	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	0.4601	−0.278%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4602	−0.252%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4604	−0.209%	$49.7M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4603	−0.231%	$14.3M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4603	−0.231%	$26.2M	$38.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4605	−0.187%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4599	−0.323%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4605	−0.191%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4614	long leg	$426K	$967K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	−0.144%	$172K	$335K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4610	−0.088%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4609	−0.101%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4602	−0.252%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	−0.014%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4603	−0.231%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4603	−0.222%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4606	−0.167%	$417K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4606	−0.171%	$40K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0105%	4h	0.4605	−0.177%	$726K	$2.1M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0118%	1h	0.4603	−0.220%	$232K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0185%	1h	0.4604	−0.209%	$34K	$342K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4613	−0.014%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4603	−0.229%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4605	−0.187%	$300K	$818K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4603	−0.231%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0366%	1h	0.4607	−0.133%	$41.0M	$24.8M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4603	−0.227%	$550K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4611	−0.064%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4607	−0.149%	$2K	—	20x	as long as short