Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0039%/8h= +4.2% APRpaid last 24h −0.083%

Price spread now: HTX against Kraken Futures+0.265%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$1041.038% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.265%, 7d avg +0.078%

Together, before fees−0.510%−$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and HTX is 0.187% dearer against Kraken Futures than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.078%. Mind the row above: over the last 7 days funding on this pair cost −0.257%, 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	0.4387	0.0061	pay 0.0008% / 1h	6m 05s	$2.6M	$8.2M	50x
Short	HTX ONDO-USDT	0.4399	0.0100	get 0.0050% / 4h	1h 06m	$129K	$473K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.265%Rate

Funding earned: $8.1
Price spread: +0.265% → +0.078%: $18.67
Slippage, 4 orders: −$81.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$77.02
Costs to cover: 1.038%
Break-even: 73.5 days

Slippage from Kraken Futures: live order book, 3 min ago; HTX: live order book, 57 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	4.54 bp	13.9 bp −$14	22.5 bp −$225	doesn't fit	doesn't fit
Sell HTX live order book, 57 min ago	14.71 bp	20.7 bp −$21	doesn't fit	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
dYdX ONDO-USD	+0.0001%	1h	0.4389	+0.041%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4386	−0.022%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.117%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0061%	1h	0.4387	long leg	$2.6M	$8.2M	50x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4387	−0.009%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4387	−0.009%	$370K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4386	−0.027%	$63.7M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4384	−0.077%	$69.6M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4386	−0.031%	$17.0M	$71.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4383	−0.093%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4386	−0.038%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4386	−0.031%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4388	+0.014%	$47.4M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4387	−0.009%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4387	−0.009%	$25.1M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4388	+0.014%	—	$21.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	−0.039%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4403	+0.365%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.333%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4400	+0.288%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4389	+0.028%	$63K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4389	+0.037%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4390	+0.060%	$456	$13K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4399	+0.265%	$129K	$473K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4390	+0.060%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4388	+0.019%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4387	−0.006%	$396K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4390	+0.069%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0130%	1h	0.4390	+0.060%	$38.1M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0172%	1h	0.4388	+0.021%	$190K	$979K	15x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4391	+0.084%	$733K	$2.3M	20x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4404	+0.381%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4389	+0.037%	$3.1M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4389	+0.028%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.789%	$281K	$719K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4389	+0.037%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4386	−0.026%	$484K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4397	+0.217%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4388	+0.018%	$2K	—	20x	as long as short