Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h —

Price spread now: RISEx against Injective−4.976%7-day average — · you buy dearer than you sell

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

Long on Injective Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. RISEx is 4.976% cheaper against Injective than usual: you would sell low and buy high (spread −4.976% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$498 on $10k: about 8 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4568	0.0033	pay 0.0004% / 1h	14m 01s	$888	$216K	5.5x
Short	RISEx ONDO/USDC	0.4341	0.0100	get 0.0013% / 1h	14m 01s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −4.976%Rate

Funding earned: $14
Price spread: −4.976% → 0.000%: −$497.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$489.63
Costs to cover: 0.060%
Break-even: 251.8 days

Slippage unknown: Injective: no order-book sample; RISEx: 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 Injective no order-book sample	—	—	—	—	—
Sell RISEx no order-book sample	—	—	—	—	—

Injective and RISEx: 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	−0.0240%	1h	0.4343	−4.915%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4342	−4.943%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0011%	1h	0.4336	−5.074%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4568	long leg	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4349	−4.801%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4344	−4.915%	$349K	$883K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4349	−4.799%	$36.3M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	−4.882%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4346	−4.860%	$62.9M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4345	−4.882%	$67.8M	$126.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4346	−4.860%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−5.166%	$71K	$82K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4341	−4.976%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4344	−4.904%	$12.2M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4347	−4.838%	$43.3M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4345	−4.882%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4347	−4.838%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4346	−4.860%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4346	−4.860%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	−5.127%	$639K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4343	−4.935%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	−4.968%	$411K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4343	−4.926%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	−4.908%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4344	−4.904%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4342	−4.947%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	−4.838%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4352	−4.729%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4345	−4.882%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4341	−4.962%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4345	−4.874%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4348	−4.816%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4343	−4.932%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4344	−4.904%	$218K	$761K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	−4.858%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4340	−4.991%	$2.5M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4342	−4.949%	$495K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0671%	1h	0.4347	−4.838%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4343	−4.925%	$2K	—	20x	as long as short