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 −0.003%

Price spread now: Gate against HTX−0.227%7-day average −0.182% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1161.156% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.253%+$25 · spread now −0.227%, 7d avg −0.182%

Together, before fees+0.193%+$19 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 0.045% cheaper against HTX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.182%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4398	0.0100	pay 0.0050% / 4h	31m 08s	$127K	$478K	50x
Short	Gate ONDO_USDT	0.4388	0.0100	get 0.0050% / 4h	31m 08s	$11.6M	$16.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against HTX. 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 HTXbpFee GatebpOrdersPrice spread, now −0.227%Rate

Funding earned: $0
Price spread: −0.227% → −0.182%: −$4.53
Slippage, 4 orders: −$88.63
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$120.16
Costs to cover: 1.156%
Break-even: never at this rate

Slippage from HTX: live order book, 27 min ago; Gate: live order book, 3 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 HTX live order book, 27 min ago	12.55 bp	62.6 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.14 bp	16.0 bp −$16	32.4 bp −$324	49.8 bp −$4,983	82.6 bp −$41.3K

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	0.4388	−0.230%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4388	−0.218%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.865%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4394	−0.102%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4389	−0.205%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4389	−0.210%	$371K	$852K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4393	−0.123%	$37.6M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4393	−0.110%	$63.5M	$230.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4390	−0.182%	$68.0M	$126.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4393	−0.114%	$17.1M	$73.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4354	−1.003%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4389	−0.204%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4388	−0.227%	$11.6M	$16.3M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4391	−0.159%	$45.0M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4390	−0.182%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4390	−0.182%	$25.1M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4390	−0.182%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4391	−0.161%	$188K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4387	−0.256%	$712K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4365	−0.754%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4367	−0.698%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4373	−0.568%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4390	−0.171%	$67K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4390	−0.182%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4391	−0.159%	$456	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4398	long leg	$127K	$478K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4389	−0.205%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4389	−0.206%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4389	−0.213%	$396K	$797K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	−0.125%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4391	−0.148%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0225%	4h	0.4393	−0.114%	$741K	$2.4M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4391	−0.159%	$271K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	−0.091%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4380	−0.407%	$35K	$223K	10x	as long as short
dYdX ONDO-USD	+0.0422%	1h	0.4385	−0.292%	$248K	$129K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4391	−0.159%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4388	−0.225%	$522K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4390	−0.182%	$2K	—	20x	as long as short