Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0461%/8h= +50.5% APRpaid last 24h −0.106%

Price spread now: Binance against Kraken Futures−0.081%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.081%, 7d avg −0.056%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.026% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of −0.056%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.327%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4421	−0.0361	get 0.0045% / 1h	25m 53s	$2.6M	$8.1M	50x
Short	Binance ONDOUSDT	0.4417	0.0100	get 0.0050% / 4h	2h 25m	$64.2M	$231.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.081%Rate

Funding earned: $96.85
Price spread: −0.081% → −0.056%: −$2.56
Slippage, 4 orders: −$33.35
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $40.93
Costs to cover: 0.534%
Break-even: 4.0 days

Slippage from Kraken Futures: live order book, 3 min ago; Binance: live order book, 3 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 Kraken Futures live order book, 3 min ago	3.40 bp	14.2 bp −$14	25.4 bp −$254	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.13 bp	9.0 bp −$9	17.8 bp −$178	54.7 bp −$5,469	352.4 bp −$176.2K

ONDO on 38 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_ONDOUSDlong	−0.0361%	1h	0.4421	long leg	$2.6M	$8.1M	50x
dYdX ONDO-USD	0.0000%	1h	0.4416	−0.114%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4420	−0.017%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.334%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4421	+0.009%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	+0.020%	$388K	$859K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4422	+0.026%	$673K	$2.1M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4417	−0.081%	$64.2M	$231.5M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4417	−0.082%	$70.0M	$125.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	−0.104%	$17.1M	$75.8M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4400	−0.469%	$72K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4420	−0.007%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4417	−0.082%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4417	−0.082%	$44.4M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4423	+0.054%	$13.2M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4417	−0.082%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4416	−0.104%	—	$761K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4422	+0.026%	$770K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4413	−0.166%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	−0.240%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.127%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4424	+0.068%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4421	+0.009%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4423	+0.054%	$460	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4430	+0.212%	$130K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4423	+0.050%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4419	−0.047%	$398K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4424	+0.083%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0114%	1h	0.4425	+0.097%	$202K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0299%	1h	0.4419	−0.039%	$39.1M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.031%	$284K	$746K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	−0.263%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4425	+0.102%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0429%	1h	0.4423	+0.054%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4419	−0.031%	$488K	—	100x	as long as short
Phemex ONDOUSDT	+0.0657%	4h	0.4422	+0.031%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0816%	1h	0.4429	+0.199%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4423	+0.048%	$2K	—	20x	as long as short