Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Ondo Perps−0.009%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

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

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ONDO-USD.P	0.4548	0.0100	pay 0.0013% / 1h	32m 34s	$74K	$89K	10x
Short	Backpack ONDO_USDC_PERP	0.4548	0.0100	get 0.0013% / 1h	32m 34s	$229K	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Ondo Perps. 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 Ondo PerpsbpFee BackpackbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → 0.000%: −$0.88
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$15.88
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Backpack: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 1 min ago	0.11 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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	−0.0802%	1h	0.4547	−0.037%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.433%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4548	−0.001%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4548	−0.007%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4542	−0.128%	$437K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4548	−0.016%	$721K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4545	−0.079%	$68.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4543	−0.117%	$73.6M	$123.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4542	−0.139%	$17.6M	$80.8M	50x	as long as short
Ondo Perps ONDO-USD.Plong	+0.0100%	1h	0.4548	long leg	$74K	$89K	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4541	−0.159%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4541	−0.160%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4544	−0.095%	$48.8M	$43.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4546	−0.051%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4543	−0.117%	$25.7M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4544	−0.095%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERPshort	+0.0100%	1h	0.4548	−0.009%	$229K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4545	−0.073%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	+0.057%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.059%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4551	+0.059%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4546	−0.044%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4543	−0.117%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.007%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4558	+0.213%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4549	+0.015%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4546	−0.052%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4542	−0.145%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4552	+0.081%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4550	+0.037%	$36K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0221%	1h	0.4549	+0.022%	$40.3M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	−0.009%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4544	−0.095%	$297K	$843K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4551	+0.059%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4545	−0.081%	$374	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4549	+0.007%	$543K	—	100x	as long as short
Lighter ONDO	+0.0808%	1h	0.4553	+0.097%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4542	−0.140%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4230%	1h	0.4543	−0.110%	$257K	$132K	5x	as long as short