Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h +0.031%

Price spread now: Kraken Futures against HTX−0.244%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$910.911% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 4 days (all we have)+0.324%+$32 · spread now −0.244%, 7d avg −0.088%

Together, before fees+0.581%+$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.156% cheaper against HTX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.088%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.257%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4338	0.0100	pay 0.0050% / 4h	3h 57m	$129K	$369K	50x
Short	Kraken Futures PF_ONDOUSD	0.4327	−0.0177	pay 0.0022% / 1h	57m 24s	$2.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.244%Rate

Funding earned: −$58.07
Price spread: −0.244% → −0.088%: −$15.62
Slippage, 4 orders: −$69.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$164.77
Costs to cover: 0.911%
Break-even: never at this rate

Slippage from HTX: live order book, 41 min ago; Kraken Futures: live order book, 2 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, 41 min ago	17.31 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	2.31 bp	18.8 bp −$19	28.1 bp −$281	383.2 bp −$38.3K	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
Phemex ONDOUSDT	−0.1518%	4h	0.4325	−0.300%	$4.2M	$9.0M	50x	as long as short
Kraken Futures PF_ONDOUSDshort	−0.0177%	1h	0.4327	−0.244%	$2.5M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4334	−0.093%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.302%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4338	−0.012%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4335	−0.069%	$347K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4338	−0.001%	$765K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4336	−0.046%	$63.3M	$234.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4335	−0.069%	$68.4M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4336	−0.046%	$17.3M	$72.0M	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	0.4318	−0.473%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.072%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4332	−0.138%	$13.1M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	−0.069%	$44.3M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.069%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4335	−0.069%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4332	−0.138%	—	$777K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4326	−0.267%	$176K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.325%	$679K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4322	−0.360%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4324	−0.319%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4321	−0.392%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	−0.081%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4328	−0.231%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4330	−0.184%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4329	−0.207%	$2K	$15K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4338	long leg	$129K	$369K	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4334	−0.094%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	−0.095%	$366K	$827K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4330	−0.184%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4330	−0.184%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4332	−0.138%	$214K	$734K	50x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4338	+0.002%	$357	$2K	10x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4328	−0.221%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4322	−0.369%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4326	−0.277%	$495K	—	100x	as long as short
Hyperliquid ONDO	+0.0611%	1h	0.4340	+0.051%	$36.7M	$27.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4334	−0.085%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1751%	1h	0.4329	−0.197%	$243K	$155K	5x	as long as short