Funding arb · Price arb /

ONDO

all ONDO markets

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 +0.020%

Price spread now: Phemex against GRVT+0.013%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$800.801% of the position

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now +0.013%, 7d avg +0.032%

Together, before fees−0.162%+ Points / potential airdropGRVT: Active · farm board−$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4612	0.0100	pay 0.0050% / 4h	3h 12m	$426K	$967K	10x
Short	Phemex ONDOUSDT	0.4613	0.0100	get 0.0050% / 4h	3h 12m	$4.5M	$7.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0
Price spread: +0.013% → +0.032%: −$1.88
Slippage, 4 orders: −$59.15
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$82.03
Costs to cover: 0.801%
Break-even: never at this rate

Slippage from GRVT: live order book, 60 min ago; Phemex: 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 GRVT live order book, 60 min ago	3.28 bp	14.1 bp −$14	24.3 bp −$243	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	12.99 bp	29.7 bp −$30	40.3 bp −$403	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	−0.0866%	1h	0.4613	+0.020%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4607	−0.111%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4611	−0.028%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.962%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4613	+0.013%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4617	+0.100%	$433K	$706K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4611	−0.024%	$69.0M	$221.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4611	−0.030%	$74.3M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4612	−0.008%	$17.6M	$78.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4625	+0.278%	$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	0.4609	−0.083%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4610	−0.052%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4611	−0.030%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4609	−0.073%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4612	−0.008%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4611	−0.030%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.100%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4615	+0.064%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4612	long leg	$426K	$967K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4616	+0.078%	$172K	$336K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4620	+0.174%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4614	+0.035%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4614	+0.035%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4621	+0.187%	$136K	$492K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4613	+0.013%	$4.5M	$7.1M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4611	−0.023%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4614	+0.045%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4616	+0.082%	$40K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0107%	4h	0.4614	+0.035%	$728K	$2.1M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0120%	1h	0.4613	+0.007%	$232K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4614	+0.035%	$34K	$342K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.524%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4614	+0.026%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4632	+0.425%	$300K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4618	+0.122%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0365%	1h	0.4614	+0.037%	$41.0M	$25.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4611	−0.022%	$551K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4617	+0.109%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4613	+0.019%	$2K	—	20x	as long as short