Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0341%/8h= +37.3% APRpaid last 24h −0.049%

Price spread now: GRVT against Kraken Futures+0.137%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.137%, 7d avg −0.077%

Together, before fees−0.487%+ Points / potential airdropGRVT: Active · farm board−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and GRVT is 0.214% dearer against Kraken Futures than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.077%. Mind the row above: over the last 7 days funding on this pair cost −0.266%, 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	0.4335	−0.0241	get 0.0030% / 1h	14m 57s	$2.5M	$7.8M	50x
Short	GRVT ONDO_USDT_Perp	0.4341	0.0100	get 0.0050% / 4h	2h 14m	$411K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.137%Rate

Funding earned: $71.54
Price spread: +0.137% → −0.077%: $21.38
Slippage, 4 orders: −$37.16
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $36.76
Costs to cover: 0.562%
Break-even: 3.4 days

Slippage from Kraken Futures: live order book, 4 min ago; GRVT: 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, 4 min ago	5.76 bp	15.0 bp −$15	22.4 bp −$224	81.5 bp −$8,147	doesn't fit
Sell GRVT live order book, 3 min ago	3.45 bp	10.1 bp −$10	43.6 bp −$436	doesn't fit	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
Kraken Futures PF_ONDOUSDlong	−0.0241%	1h	0.4335	long leg	$2.5M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4335	−0.004%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0011%	1h	0.4336	+0.026%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.372%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4341	+0.136%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4337	+0.044%	$349K	$883K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4341	+0.135%	$36.2M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4340	+0.113%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	+0.111%	$62.8M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4337	+0.044%	$67.7M	$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	0.4340	+0.113%	$17.3M	$73.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.072%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4336	+0.014%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4337	+0.044%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4339	+0.090%	$43.3M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4337	+0.044%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4340	+0.113%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4338	+0.067%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	+0.060%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	−0.030%	$639K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4343	+0.172%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4341	+0.137%	$411K	$1.3M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4343	+0.182%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4338	+0.058%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4336	+0.021%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4339	+0.090%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4338	+0.067%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4345	+0.228%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	+0.044%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4337	+0.054%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	+0.063%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4339	+0.097%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4337	+0.044%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4339	+0.090%	$217K	$760K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.254%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4340	+0.113%	$2.5M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4338	+0.067%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4334	−0.021%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4337	+0.032%	$2K	—	20x	as long as short