Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1053%/8h= +115.3% APRpaid last 24h +0.308%

Price spread now: Reya against HTX−0.233%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.233% cheaper against HTX than usual: you would sell low and buy high (spread −0.233% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 18 hours of funding at the current rate (+$32 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4403	0.0100	pay 0.0050% / 4h	3h 57m	$130K	$434K	50x
Short	Reya ONDORUSDPERP	0.4393	0.1153	get 0.0144% / 1h	57m 54s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.233%Rate

Funding earned: $221.06
Price spread: −0.233% → 0.000%: −$23.32
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $179.74
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: HTX: live order book, 61 min ago; Reya: no order-book sample. Net counts fees only.

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, 61 min ago	12.55 bp	62.6 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0159%	1h	0.4394	−0.209%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4391	−0.282%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4390	−0.284%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.747%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4399	−0.095%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4392	−0.250%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4393	−0.221%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4397	−0.136%	$63.6M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4395	−0.182%	$68.1M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4396	−0.159%	$17.2M	$73.3M	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	0.4393	−0.225%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4392	−0.254%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	−0.182%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4396	−0.159%	$44.6M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4394	−0.204%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4398	−0.114%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4397	−0.136%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4396	−0.154%	$185K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4399	−0.097%	$719K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4399	−0.092%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4393	−0.227%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	−0.159%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	−0.225%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	−0.227%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4396	−0.159%	$457	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4403	long leg	$130K	$434K	50x
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4391	−0.262%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4395	−0.175%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	−0.171%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0192%	1h	0.4393	−0.220%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4393	−0.227%	$18K	$367K	25x	as long as short
Aster ONDOUSDT	+0.0230%	4h	0.4398	−0.114%	$762K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4401	−0.045%	$272K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0332%	1h	0.4399	−0.093%	$37.8M	$24.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4396	−0.159%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4396	−0.148%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4390	−0.291%	$522K	—	100x	as long as short
Phemex ONDOUSDT	+0.0814%	4h	0.4393	−0.227%	$4.3M	$7.9M	50x	as long as short
Reya ONDORUSDPERPshort	+0.1153%	1h	0.4393	−0.233%	$2K	—	20x