Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0246%/8h= +26.9% APRpaid last 24h −0.049%

Price spread now: SunX against Kraken Futures+0.034%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1691.689% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.034%, 7d avg −0.067%

Together, before fees−0.367%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and SunX is 0.102% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.067%. Mind the row above: over the last 7 days funding on this pair cost −0.258%, 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	0.4344	−0.0146	get 0.0018% / 1h	58m 10s	$2.5M	$7.8M	50x
Short	SunX ONDO-USDT	0.4345	0.0100	get 0.0050% / 4h	1h 58m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $51.59
Price spread: +0.034% → −0.067%: $10.18
Slippage, 4 orders: −$150.95
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$107.17
Costs to cover: 1.689%
Break-even: 21.5 days

Slippage from Kraken Futures: live order book, 1 min ago; SunX: live order book, 6 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, 1 min ago	4.59 bp	13.9 bp −$14	15.7 bp −$157	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	47.06 bp	67.8 bp −$68	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
Kraken Futures PF_ONDOUSDlong	−0.0146%	1h	0.4344	long leg	$2.5M	$7.8M	50x
dYdX ONDO-USD	0.0000%	1h	0.4349	+0.137%	$244K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4345	+0.037%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.168%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4349	+0.126%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4351	+0.172%	$347K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4349	+0.130%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4346	+0.057%	$63.1M	$238.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4344	+0.011%	$67.8M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4344	+0.011%	$17.3M	$73.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4351	+0.177%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4353	+0.225%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4346	+0.057%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4344	+0.011%	$43.6M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4347	+0.080%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4345	+0.034%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4345	+0.034%	—	$23.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4348	+0.096%	$645K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4351	+0.176%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	+0.210%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4350	+0.149%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4355	+0.271%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4344	+0.011%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4345	+0.034%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4346	+0.057%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4366	+0.518%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4344	+0.011%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4352	+0.186%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4344	+0.005%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4346	+0.069%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0210%	1h	0.4346	+0.057%	$18K	$362K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0214%	1h	0.4345	+0.039%	$181K	$992K	15x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4358	+0.322%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4366	+0.518%	$217K	$730K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4361	+0.410%	$35K	$222K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4347	+0.080%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0202%	1h	0.4346	+0.058%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0603%	1h	0.4349	+0.129%	$36.7M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4350	+0.143%	$2K	—	20x	as long as short