Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1041%/8h= +114.0% APRpaid last 24h +0.304%

Price spread now: Reya against OKX−0.265%47s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.265% cheaper against OKX than usual: you would sell low and buy high (spread −0.265% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$27 on $10k: about 20 hours of funding at the current rate (+$31 a day). The two prices were read 47 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	0.4567	0.0100	pay 0.0050% / 4h	1h 27m	$17.7M	$81.6M	50x
Short	Reya ONDORUSDPERP	0.4555	0.1141	get 0.0143% / 1h	27m 36s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.265%Rate

Funding earned: $218.57
Price spread: −0.265% → 0.000%: −$26.51
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $176.05
Costs to cover: 0.160%
Break-even: 1.4 days

Slippage unknown: OKX: live order book, 1 min ago; Reya: 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 OKX live order book, 1 min ago	1.10 bp	10.1 bp −$10	23.5 bp −$235	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Kraken Futures PF_ONDOUSD	−0.0354%	1h	0.4547	−0.429%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4552	−0.325%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.372%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	−0.219%	$430K	$699K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4562	−0.106%	$731K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4560	−0.154%	$67.4M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4567	0.000%	$74.3M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4567	long leg	$17.7M	$81.6M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4557	−0.219%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4568	+0.020%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4562	−0.109%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4567	0.000%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4559	−0.175%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4569	+0.044%	$25.8M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4566	−0.022%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.379%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.615%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	−0.255%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4540	−0.591%	$426K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	−0.307%	$161K	$334K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4560	−0.162%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	−0.263%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.416%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	−0.088%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.460%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	−0.018%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4568	+0.015%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	−0.316%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.274%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.022%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.350%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	−0.066%	$300K	$864K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4556	−0.241%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4566	−0.028%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0422%	1h	0.4565	−0.044%	$40.9M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	−0.325%	$568K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4568	+0.022%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1141%	1h	0.4555	−0.265%	$2K	—	20x
dYdX ONDO-USD	+0.3050%	1h	0.4555	−0.271%	$258K	$129K	5x	as long as short