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 0.000%

Price spread now: OKX against HTX−0.594%54s7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1011.008% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.607%+$61 · spread now −0.594%, 7d avg −0.168%

Together, before fees+0.555%+$55 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: OKX is 0.426% cheaper against HTX than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of −0.168%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4375	0.0100	pay 0.0050% / 4h	49m 17s	$127K	$477K	50x
Short	OKX ONDO-USDT-SWAP	0.4349	0.0100	get 0.0050% / 4h	49m 17s	$16.7M	$71.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.594%Rate

Funding earned: $0
Price spread: −0.594% → −0.168%: −$42.63
Slippage, 4 orders: −$78.84
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$143.47
Costs to cover: 1.008%
Break-even: never at this rate

Slippage from HTX: live order book, 9 min ago; OKX: live order book, 5 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, 9 min ago	12.55 bp	62.6 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.14 bp	8.2 bp −$8	20.7 bp −$207	204.2 bp −$20.4K	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4349	−0.585%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0014%	1h	0.4352	−0.534%	$246K	$129K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.411%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4351	−0.552%	$2.6M	$8.0M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4349	−0.594%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	−0.583%	$368K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4353	−0.503%	$37.4M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4351	−0.549%	$62.8M	$228.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4351	−0.549%	$68.9M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAPshort	+0.0100%	4h	0.4349	−0.594%	$16.7M	$71.6M	50x

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	0.4339	−0.825%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4347	−0.639%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4351	−0.549%	$11.5M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4352	−0.526%	$45.6M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4351	−0.549%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4350	−0.571%	$24.9M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4351	−0.549%	—	$21.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4356	−0.441%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4365	−0.235%	$707K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	+0.336%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4389	+0.321%	$405K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4366	−0.206%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4351	−0.544%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4351	−0.549%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4366	−0.206%	$454	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4375	long leg	$127K	$477K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4365	−0.229%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4353	−0.510%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4349	−0.587%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4351	−0.549%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0208%	4h	0.4351	−0.539%	$730K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4350	−0.581%	$358	$2K	10x	as long as short
Lighter ONDO	+0.0328%	1h	0.4358	−0.379%	$1.1M	$2.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.434%	$276K	$719K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4365	−0.229%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4354	−0.489%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4352	−0.526%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0548% / S −0.0190%	1h	0.4349	−0.594%	$480K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4351	−0.549%	$2K	—	20x	as long as short