Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.116%

Price spread now: Lighter against HTX−0.101%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$870.870% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)+0.254%+$25 · spread now −0.101%, 7d avg −0.038%

Together, before fees+0.461%+ Points / potential airdropLighter: Season 3 · farm board+$46 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: Lighter is 0.063% cheaper against HTX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4344	0.0100	pay 0.0050% / 4h	1h 58m	$106K	$478K	50x
Short	Lighter ONDO	0.4340	0.0096	get 0.0012% / 1h	58m 13s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$0.84
Price spread: −0.101% → −0.038%: −$6.3
Slippage, 4 orders: −$74.96
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$94.1
Costs to cover: 0.870%
Break-even: never at this rate

Slippage from HTX: live order book, 53 min ago; Lighter: 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, 53 min ago	15.00 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	5.64 bp	8.1 bp −$8	33.3 bp −$333	doesn't fit	doesn't fit

ONDO on 39 exchanges

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	−0.0324%	1h	0.4333	−0.248%	$2.6M	$7.3M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4334	−0.230%	$21K	$368K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4334	−0.239%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.157%	$888	$215K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4340	−0.101%	$1.1M	$2.3M	10x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4333	−0.253%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.230%	$338K	$821K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4336	−0.184%	$772K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4335	−0.199%	$63.2M	$222.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4332	−0.276%	$67.9M	$116.9M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	−0.207%	$17.3M	$67.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4329	−0.348%	$71K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4334	−0.226%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.230%	$13.8M	$13.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	−0.207%	$46.3M	$39.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.207%	$13.1M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	−0.184%	$25.3M	$33.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4335	−0.207%	—	$783K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4336	−0.189%	$180K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.449%	$799K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4329	−0.336%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4344	0.000%	$405K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.391%	$133K	$319K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4336	−0.184%	$60K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	−0.230%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	−0.207%	$2K	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4344	long leg	$106K	$478K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4335	−0.207%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.244%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4333	−0.252%	$355K	$779K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	−0.184%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4335	−0.196%	$357	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4334	−0.239%	$35K	$207K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+0.207%	$214K	$619K	50x	as long as short
Hyperliquid ONDO	+0.0288%	1h	0.4340	−0.092%	$36.6M	$26.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	−0.184%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0203%	1h	0.4335	−0.218%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4333	−0.256%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3356%	1h	0.4336	−0.184%	$248K	$159K	5x	as long as short