Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.066%

Price spread now: Hyperliquid against KuCoin+0.105%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$520.524% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.105%, 7d avg +0.051%

Together, before fees+0.258%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.054% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4393	0.0100	pay 0.0050% / 4h	2m 27s	$12.7M	$10.6M	50x
Short	Hyperliquid ONDO	0.4398	0.0143	get 0.0018% / 1h	2m 27s	$37.8M	$24.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.105%Rate

Funding earned: $9.04
Price spread: +0.105% → +0.051%: $5.37
Slippage, 4 orders: −$31.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.04
Costs to cover: 0.524%
Break-even: 36.5 days

Slippage from KuCoin: live order book, 6 min ago; Hyperliquid: live order book, 11 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, 6 min ago	1.14 bp	17.6 bp −$18	43.1 bp −$431	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.11 bp	9.4 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	−0.026%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4393	+0.003%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.984%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4396	+0.064%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4393	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	−0.028%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4394	+0.026%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4392	−0.023%	$68.0M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4396	+0.068%	$17.1M	$73.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4386	−0.153%	$72K	$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	0.4392	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4392	−0.023%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4393	0.000%	$44.9M	$42.1M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4393	long leg	$12.7M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4395	+0.046%	$25.2M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4393	0.000%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4394	+0.014%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.439%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4375	−0.403%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	−0.273%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4375	−0.410%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.023%	$79K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4396	+0.068%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4400	+0.159%	$127K	$436K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	0.000%	$4.3M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4393	−0.001%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4394	+0.029%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.099%	$38K	$13K	3x	as long as short
Hyperliquid ONDOshort	+0.0143%	1h	0.4398	+0.105%	$37.8M	$24.7M	10x
dYdX ONDO-USD	+0.0207%	1h	0.4390	−0.057%	$248K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4394	+0.011%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0226%	4h	0.4395	+0.051%	$761K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4393	0.000%	$271K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.023%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4379	−0.319%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4392	−0.016%	$522K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0661%	1h	0.4397	+0.091%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4394	+0.028%	$2K	—	20x	as long as short