Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against OKX+0.024%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.024%, 7d avg +0.077%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.053% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.077%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.300%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4340	0.0100	pay 0.0050% / 4h	3h 44m	$17.4M	$72.0M	50x
Short	Kraken Futures PF_ONDOUSD	0.4341	−0.0176	pay 0.0022% / 1h	44m 57s	$2.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$57.95
Price spread: +0.024% → +0.077%: −$5.28
Slippage, 4 orders: −$31.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$114.78
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Kraken Futures: live order book, 4 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	1.15 bp	8.4 bp −$8	17.3 bp −$173	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.46 bp	21.4 bp −$21	29.9 bp −$299	379.2 bp −$37.9K	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_ONDOUSDshort	−0.0176%	1h	0.4341	+0.024%	$2.5M	$7.8M	50x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4342	+0.046%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.005%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.253%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4346	+0.145%	$1.1M	$2.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	+0.106%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	+0.001%	$63.4M	$233.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4338	−0.046%	$68.5M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4340	long leg	$17.4M	$72.0M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4337	−0.074%	$71K	$81K	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	0.4340	+0.003%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4340	0.000%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4342	+0.046%	$44.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4343	+0.069%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4342	+0.046%	$24.9M	$36.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4340	0.000%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	+0.094%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.028%	$682K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4339	−0.034%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4336	−0.092%	$401K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4344	+0.092%	$134K	$340K	50x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4341	+0.035%	$347K	$886K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	+0.012%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	+0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4342	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4342	+0.046%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4347	+0.161%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4343	+0.069%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4339	−0.030%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4341	+0.020%	$364K	$831K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4343	+0.069%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4346	+0.138%	$215K	$734K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4344	+0.099%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4343	+0.062%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	+0.023%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4340	−0.006%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0647%	1h	0.4348	+0.194%	$36.8M	$27.4M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4341	+0.023%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1841%	1h	0.4340	−0.012%	$244K	$155K	5x	as long as short