Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0247%/8h= +27.1% APRpaid last 24h −0.040%

Price spread now: Paradex against Kraken Futures+0.050%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Paradex is 0.050% dearer against Kraken Futures than usual: you sell high and buy low: +$5 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	Kraken Futures PF_ONDOUSD	0.4322	−0.0146	get 0.0018% / 1h	3m 16s	$2.5M	$7.7M	50x
Short	Paradex ONDO-USD-PERP	0.4324	0.0101	get 0.0101% / 8h	1h 03m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.050%Rate

Funding earned: $51.89
Price spread: +0.050% → 0.000%: $5.03
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $42.93
Costs to cover: 0.140%
Break-even: 1.2 days

Slippage unknown: Kraken Futures: live order book, 1 min ago; Paradex: 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 Kraken Futures live order book, 1 min ago	3.47 bp	16.3 bp −$16	23.4 bp −$234	169.6 bp −$17.0K	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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_ONDOUSDlong	−0.0146%	1h	0.4322	long leg	$2.5M	$7.7M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4322	−0.005%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.693%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4328	+0.135%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4325	+0.071%	$347K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4324	+0.047%	$778K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	+0.044%	$62.5M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	−0.022%	$67.8M	$122.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.024%	$17.3M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4328	+0.128%	$71K	$81K	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	0.4323	+0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4322	+0.001%	$12.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	+0.024%	$43.3M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4322	+0.001%	$11.9M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4321	−0.022%	$24.6M	$36.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4322	+0.001%	—	$768K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4322	−0.006%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4331	+0.203%	$735K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	+0.123%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4327	+0.118%	$402K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4326	+0.094%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4324	+0.045%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4321	−0.022%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4327	+0.117%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4324	+0.047%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4333	+0.256%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4326	+0.094%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0101%	8h	0.4324	+0.050%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4322	+0.002%	$358K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4325	+0.069%	$38K	$13K	3x	as long as short
dYdX ONDO-USD	+0.0205%	1h	0.4324	+0.039%	$243K	$156K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4323	+0.024%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4325	+0.059%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	+0.140%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0271%	1h	0.4326	+0.089%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4326	+0.096%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4323	+0.024%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4319	−0.057%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4322	−0.005%	$2K	—	20x	as long as short