Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.143%

Price spread now: Coinbase International against KuCoin+0.679%7-day average +0.210% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$910.909% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.756%+$76 on $10k

Price spread, last 3 days (all we have)−0.460%−$46 · spread now +0.679%, 7d avg +0.210%

Together, before fees+0.295%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.468% dearer against KuCoin than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +0.210%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4568	0.0100	pay 0.0050% / 4h	47m 06s	$13.8M	$11.0M	50x
Short	Coinbase International ONDO-PERP-INTX	0.4599	0.0304	get 0.0038% / 1h	47m 06s	$302K	$859K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.679%Rate

Funding earned: $42.84
Price spread: +0.679% → +0.210%: $46.83
Slippage, 4 orders: −$68.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1.18
Costs to cover: 0.909%
Break-even: 7.2 days

Slippage from KuCoin: live order book, 2 min ago; Coinbase International: live order book, 31 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, 2 min ago	1.09 bp	19.8 bp −$20	40.6 bp −$406	doesn't fit	doesn't fit
Sell Coinbase International live order book, 31 min ago	9.80 bp	29.7 bp −$30	83.6 bp −$836	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_ONDOUSD	−0.0799%	1h	0.4564	−0.082%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	0.000%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4566	−0.040%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4567	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4572	+0.077%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4567	−0.018%	$723K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4566	−0.048%	$68.3M	$227.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4565	−0.066%	$74.0M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4564	−0.088%	$17.8M	$81.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4566	−0.050%	$75K	$89K	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	0.4569	+0.013%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4563	−0.109%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4565	−0.066%	$49.2M	$43.2M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4568	long leg	$13.8M	$11.0M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4565	−0.066%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4565	−0.066%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.414%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4575	+0.143%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4575	+0.145%	$433K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.438%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4570	+0.046%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4569	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4566	−0.044%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.197%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4567	−0.022%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4570	+0.040%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4566	−0.051%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4568	+0.011%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4568	0.000%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0190%	1h	0.4567	−0.033%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.230%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0304%	1h	0.4599	+0.679%	$302K	$859K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4566	−0.044%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0349%	1h	0.4570	+0.033%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0472%	1h	0.4572	+0.079%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4567	−0.031%	$545K	—	100x	as long as short
Lighter ONDO	+0.1000%	1h	0.4574	+0.140%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4567	−0.014%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6990%	1h	0.4570	+0.037%	$259K	$129K	5x	as long as short