Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against OKX+0.012%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.012%, 7d avg −0.025%

Together, before fees−0.025%+ Points / potential airdropExtended: Active · farm board−$3 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 0.038% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4561	0.0100	pay 0.0050% / 4h	1h 10m	$17.8M	$81.4M	50x
Short	Extended ONDO-USD	0.4562	0.0104	get 0.0013% / 1h	10m 49s	$409K	$855K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0.84
Price spread: +0.012% → −0.025%: $3.78
Slippage, 4 orders: −$16.75
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.12
Costs to cover: 0.317%
Break-even: 233.0 days

Slippage from OKX: live order book, 3 min ago; Extended: live order book, 7 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 OKX live order book, 3 min ago	1.10 bp	10.6 bp −$11	24.8 bp −$248	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	2.17 bp	5.1 bp −$5	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	−0.0353%	1h	0.4560	−0.028%	$2.8M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4561	0.000%	$31K	$432K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4561	+0.003%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4560	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4564	+0.060%	$432K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4564	+0.059%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4563	+0.039%	$67.7M	$226.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4562	+0.022%	$73.9M	$122.3M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4561	long leg	$17.8M	$81.4M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.594%	$74K	$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	0.4561	+0.007%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4561	0.000%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4561	0.000%	$49.2M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4562	+0.022%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4562	+0.022%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4562	+0.022%	—	$742K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4598	+0.810%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4568	+0.157%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	+0.159%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	+0.088%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4565	+0.079%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4560	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4561	0.000%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4571	+0.219%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4561	0.000%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4565	+0.098%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4562	+0.012%	$409K	$855K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4565	+0.088%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.544%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0145%	1h	0.4563	+0.044%	$230K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.153%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.745%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4563	+0.044%	$3.3M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0386%	1h	0.4566	+0.105%	$40.6M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4563	+0.050%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4560	−0.014%	$544K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4569	+0.167%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4563	+0.035%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5105%	1h	0.4564	+0.075%	$258K	$129K	5x	as long as short