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 −0.003%

Price spread now: Gate against OKX−0.228%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.237%+$24 · spread now −0.228%, 7d avg −0.008%

Together, before fees+0.231%+$23 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: Gate is 0.220% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4393	0.0100	pay 0.0050% / 4h	3h 31m	$17.2M	$73.0M	50x
Short	Gate ONDO_USDT	0.4383	0.0100	get 0.0050% / 4h	3h 31m	$11.7M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.228%Rate

Funding earned: $0
Price spread: −0.228% → −0.008%: −$21.99
Slippage, 4 orders: −$27.89
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$74.87
Costs to cover: 0.529%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	1.14 bp	11.6 bp −$12	20.3 bp −$203	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.28 bp	17.7 bp −$18	28.7 bp −$287	47.0 bp −$4,700	79.0 bp −$39.5K

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	−0.0160%	1h	0.4378	−0.339%	$2.6M	$7.7M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4379	−0.330%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	−0.325%	$7K	—	150x	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	0.4386	−0.153%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4380	−0.296%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4394	+0.023%	$363K	$845K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4390	−0.073%	$63.4M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4390	−0.068%	$68.2M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4393	long leg	$17.2M	$73.0M	50x

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	0.4388	−0.114%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4388	−0.109%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4383	−0.228%	$11.7M	$16.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4392	−0.023%	$43.7M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4383	−0.228%	$12.7M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4394	+0.023%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4386	−0.159%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4380	−0.291%	$184K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4375	−0.416%	$714K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	−0.312%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	−0.246%	$405K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.341%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	−0.002%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4382	−0.250%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4380	−0.296%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4389	−0.091%	$130K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4381	−0.273%	$4.2M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4378	−0.332%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4385	−0.183%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4384	−0.216%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4390	−0.064%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0194%	4h	0.4390	−0.079%	$797K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0254%	1h	0.4396	+0.059%	$37.8M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	−0.068%	$260K	$738K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4385	−0.193%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4384	−0.205%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4382	−0.250%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0556% / S −0.0193%	1h	0.4378	−0.331%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4392	−0.013%	$2K	—	20x	as long as short