Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against OKX−0.179%91s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as 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−$400.399% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)+0.257%+$26 · spread now −0.179%, 7d avg +0.011%

Together, before fees+0.280%+ Points / potential airdropGRVT: Active · farm board+$28 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: GRVT is 0.190% cheaper against OKX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.011%. The two prices were read 91 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	OKX ONDO-USDT-SWAP	0.4475	0.0100	pay 0.0050% / 4h	2h 50m	$17.2M	$76.8M	50x
Short	GRVT ONDO_USDT_Perp	0.4467	0.0100	get 0.0050% / 4h	2h 50m	$420K	$965K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.179%Rate

Funding earned: $0
Price spread: −0.179% → +0.011%: −$19.03
Slippage, 4 orders: −$20.93
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$58.96
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; GRVT: live order book, 18 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, 4 min ago	1.12 bp	10.3 bp −$10	25.5 bp −$255	doesn't fit	doesn't fit
Sell GRVT live order book, 18 min ago	3.26 bp	10.8 bp −$11	43.5 bp −$435	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	−0.0357%	1h	0.4477	+0.052%	$2.7M	$8.0M	50x	as long as short
ApeX Omni ONDOUSDT	−0.0132%	1h	0.4463	−0.268%	$165K	$356K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4468	−0.150%	$253K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4472	−0.063%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.078%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4474	−0.022%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4478	+0.067%	$408K	$779K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4477	+0.045%	$693K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4474	−0.022%	$65.9M	$227.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4474	−0.022%	$72.1M	$122.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4475	long leg	$17.2M	$76.8M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4464	−0.241%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4475	−0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4471	−0.089%	$11.7M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4474	−0.022%	$46.0M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4473	−0.045%	$13.5M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4475	0.000%	$25.3M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4473	−0.045%	—	$755K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4468	−0.161%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4457	−0.407%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4467	−0.179%	$420K	$965K	10x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4478	+0.067%	$111K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4473	−0.045%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4479	+0.089%	$466	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4487	+0.268%	$131K	$499K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4475	−0.010%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4474	−0.017%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4479	+0.083%	$39K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0106%	1h	0.4476	+0.011%	$203K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0174%	1h	0.4478	+0.058%	$39.6M	$25.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4481	+0.132%	$369	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4472	−0.067%	$291K	$802K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4470	−0.123%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4470	−0.112%	$3.2M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0420%	1h	0.4479	+0.089%	$33K	$339K	25x	as long as short
Lighter ONDO	+0.0568%	1h	0.4479	+0.092%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0582% / S −0.0186%	1h	0.4472	−0.062%	$534K	—	100x	as long as short
Phemex ONDOUSDT	+0.0679%	4h	0.4477	+0.045%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4474	−0.027%	$2K	—	20x	as long as short