Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.845%

Price spread now: Gate against Injective+2.446%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+3.357%+$336 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 2.446% dearer against Injective than usual: you sell high and buy low: +$245 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4416	0.0033	pay 0.0004% / 1h	57m 20s	$994	$82K	5.5x
Short	Gate ONDO_USDT	0.4524	0.0100	get 0.0050% / 4h	2h 57m	$11.8M	$18.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +2.446%Rate

Funding earned: $14
Price spread: +2.446% → 0.000%: $244.57
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $243.55
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 1 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	1.10 bp	19.4 bp −$19	35.8 bp −$358	48.8 bp −$4,877	78.3 bp −$39.2K

Injective: 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	−0.1121%	1h	0.4537	+2.737%	$3.1M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	+2.423%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4525	+2.459%	$6K	—	150x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4416	long leg	$994	$82K	5.5x
Bybit ONDOUSDT	+0.0044%	4h	0.4524	+2.446%	$73.6M	$117.2M	50x	as long as short
Variational Omni ONDO	+0.0062%	4h	0.4524	+2.436%	$799K	$2.0M	—	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4522	+2.400%	$25K	$8K	10x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4523	+2.426%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4526	+2.491%	$433K	$669K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4529	+2.557%	$40.8M	$27.6M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4529	+2.548%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4524	+2.446%	$66.6M	$221.4M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4522	+2.400%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4556	+3.177%	$73K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4527	+2.504%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4524	+2.446%	$11.8M	$18.6M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4524	+2.446%	$48.3M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4526	+2.491%	$14.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4525	+2.468%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4523	+2.423%	—	$745K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4535	+2.692%	$227K	$942K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4539	+2.796%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4550	+3.034%	$428K	$925K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4541	+2.831%	$160K	$329K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4526	+2.493%	$78K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	+2.423%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4533	+2.649%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4564	+3.351%	$126K	$514K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4534	+2.672%	$4.9M	$6.1M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4525	+2.468%	$405K	$994K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4526	+2.483%	$36K	—	3x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4508	+2.074%	$29K	$220K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4529	+2.563%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0328%	1h	0.4543	+2.874%	$1.4M	$2.2M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4541	+2.831%	$311K	$837K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4553	+3.102%	$3.3M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4524	+2.435%	$563K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4524	+2.435%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.8083%	1h	0.4530	+2.591%	$256K	$117K	5x	as long as short