Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h —

Price spread now: RISEx against Lighter+0.357%54s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.357% dearer against Lighter than usual: you sell high and buy low, +$36 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 54 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	Lighter ONDO	0.4347	0.0096	pay 0.0012% / 1h	55m 41s	$1.1M	$2.3M	10x
Short	RISEx ONDO/USDC	0.4362	0.0100	get 0.0013% / 1h	55m 41s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Lighter. 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 LighterbpFee RISExbpOrdersPrice spread, now +0.357%Rate

Funding earned: $0.84
Price spread: +0.357% → 0.000%: $35.65
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: $30.49
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: live order book, 6 min ago; RISEx: no order-book sample. Net counts fees only.

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 Lighter live order book, 6 min ago	4.45 bp	9.8 bp −$10	37.0 bp −$370	doesn't fit	doesn't fit
Sell RISEx no order-book sample	—	—	—	—	—

RISEx: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.4379	+0.740%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4357	+0.247%	$2.5M	$7.4M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.094%	$888	$215K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4347	long leg	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4361	+0.343%	$342K	$873K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4346	−0.002%	$36.5M	$27.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	−0.076%	$757K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4339	−0.170%	$63.3M	$228.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4335	−0.267%	$68.0M	$120.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4338	−0.198%	$17.3M	$69.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.327%	$72K	$77K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4362	+0.357%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4344	−0.060%	$13.5M	$14.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4338	−0.198%	$43.7M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4338	−0.198%	$13.0M	$10.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4337	−0.221%	$25.2M	$35.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4334	−0.290%	—	$22.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	+0.175%	$185K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4356	+0.208%	$772K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4373	+0.608%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	+0.722%	$403K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4380	+0.768%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4365	+0.419%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4358	+0.262%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4359	+0.285%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4360	+0.308%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4372	+0.584%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	+0.216%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4336	−0.244%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4344	−0.055%	$363K	$788K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4357	+0.233%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4363	+0.380%	$359	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0209%	1h	0.4361	+0.331%	$24K	$363K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4363	+0.377%	$216K	$707K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4372	+0.575%	$35K	$217K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	+0.446%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0583% / S −0.0208%	1h	0.4359	+0.284%	$504K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1164%	1h	0.4357	+0.230%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4049%	1h	0.4344	−0.068%	$249K	$160K	5x	as long as short