Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against KuCoin−0.014%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.014%, 7d avg −0.059%

Together, before fees−0.024%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.046% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4339	0.0100	pay 0.0050% / 4h	3h 51m	$12.2M	$10.4M	50x
Short	Extended ONDO-USD	0.4338	0.0104	get 0.0013% / 1h	51m 02s	$364K	$829K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0.84
Price spread: −0.014% → −0.059%: $4.57
Slippage, 4 orders: −$28.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$40.48
Costs to cover: 0.459%
Break-even: 344.3 days

Slippage from KuCoin: live order book, 8 min ago; Extended: live order book, 47 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, 8 min ago	1.15 bp	15.9 bp −$16	41.0 bp −$410	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	3.47 bp	6.0 bp −$6	16.1 bp −$161	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	−0.0176%	1h	0.4340	+0.022%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	+0.023%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.278%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4344	+0.108%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	+0.069%	$347K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4342	+0.076%	$762K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4339	0.000%	$63.4M	$234.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4337	−0.046%	$68.4M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4339	0.000%	$17.4M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4341	+0.055%	$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	0.4338	−0.027%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4338	−0.023%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4338	−0.023%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4339	long leg	$12.2M	$10.4M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4338	−0.023%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4339	0.000%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4340	+0.016%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4321	−0.420%	$679K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4330	−0.199%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	−0.149%	$408K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.184%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	+0.023%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	+0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	−0.115%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4341	+0.046%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.230%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4339	0.000%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4333	−0.138%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4338	−0.014%	$364K	$829K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4343	+0.103%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4344	+0.115%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	0.000%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4332	−0.157%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0328%	1h	0.4341	+0.041%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.023%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4340	+0.017%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0634%	1h	0.4343	+0.101%	$36.7M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4342	+0.064%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1662%	1h	0.4328	−0.246%	$243K	$155K	5x	as long as short