Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against KuCoin+0.185%51s7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$930.934% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.250%−$25 · spread now +0.185%, 7d avg +0.130%

Together, before fees−0.244%−$24 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: HTX is 0.055% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.130%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4320	0.0100	pay 0.0050% / 4h	1h 00m	$11.9M	$10.4M	50x
Short	HTX ONDO-USDT	0.4328	0.0100	get 0.0050% / 4h	1h 00m	$128K	$395K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.185%Rate

Funding earned: $0
Price spread: +0.185% → +0.130%: $5.48
Slippage, 4 orders: −$69.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$87.95
Costs to cover: 0.934%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; HTX: live order book, 43 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	1.16 bp	17.5 bp −$18	40.6 bp −$406	doesn't fit	doesn't fit
Sell HTX live order book, 43 min ago	13.82 bp	22.1 bp −$22	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_ONDOUSD	−0.0146%	1h	0.4319	−0.027%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4319	−0.027%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.741%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4323	+0.072%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4323	+0.058%	$347K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4323	+0.069%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4322	+0.042%	$62.5M	$233.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4322	+0.046%	$67.8M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4324	+0.093%	$17.2M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4328	+0.174%	$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	0.4321	+0.030%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4319	−0.023%	$12.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	+0.069%	$43.3M	$43.0M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4320	long leg	$11.9M	$10.4M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4324	+0.093%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4320	0.000%	—	$770K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	+0.030%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4318	−0.052%	$728K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4324	+0.087%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	+0.068%	$401K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4326	+0.139%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4325	+0.106%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4322	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4321	+0.023%	$449	$14K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4328	+0.185%	$128K	$395K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4322	+0.046%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4320	−0.009%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	+0.030%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	+0.050%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4324	+0.081%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	+0.185%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0275%	1h	0.4327	+0.171%	$36.4M	$27.1M	10x	as long as short
dYdX ONDO-USD	+0.0282%	1h	0.4320	−0.008%	$242K	$156K	5x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4326	+0.141%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4322	+0.046%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0445%	1h	0.4322	+0.046%	$18K	$351K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4319	−0.029%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4320	0.000%	$2K	—	20x	as long as short