Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Backpack against KuCoin−0.030%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days−0.020%−$2 · spread now −0.030%, 7d avg −0.021%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4397	0.0100	pay 0.0050% / 4h	1m 42s	$12.8M	$10.6M	50x
Short	Backpack ONDO_USDC_PERP	0.4396	0.0100	get 0.0013% / 1h	1m 42s	$187K	$982K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → −0.021%: −$0.88
Slippage, 4 orders: −$31.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.44
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Backpack: live order book, 62 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 KuCoin live order book, 7 min ago	1.14 bp	17.6 bp −$18	43.1 bp −$431	doesn't fit	doesn't fit
Sell Backpack live order book, 62 min ago	0.23 bp	9.0 bp −$9	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4392	−0.117%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4393	−0.088%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.889%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4402	+0.116%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4393	−0.091%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	−0.119%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4400	+0.078%	$63.6M	$230.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4399	+0.045%	$68.1M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4401	+0.091%	$17.1M	$73.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4386	−0.243%	$73K	$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	0.4400	+0.075%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4399	+0.045%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4400	+0.068%	$44.9M	$42.1M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4397	long leg	$12.8M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4401	+0.091%	$25.2M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4400	+0.068%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERPshort	+0.0100%	1h	0.4396	−0.030%	$187K	$982K	15x
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.529%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4375	−0.494%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	−0.364%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4375	−0.500%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	−0.068%	$79K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	−0.091%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4396	−0.023%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4399	+0.045%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4394	−0.068%	$4.3M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4400	+0.066%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4401	+0.085%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.008%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0146%	1h	0.4401	+0.091%	$37.9M	$24.7M	10x	as long as short
dYdX ONDO-USD	+0.0204%	1h	0.4394	−0.063%	$249K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4402	+0.109%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0227%	4h	0.4398	+0.031%	$761K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4393	−0.091%	$271K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	−0.068%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4379	−0.409%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4392	−0.107%	$522K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0661%	1h	0.4397	0.000%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4394	−0.063%	$2K	—	20x	as long as short