Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Ondo Perps−0.440%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.440% cheaper against Ondo Perps than usual: you would sell low and buy high, −$44 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ONDO-USD.P	0.4520	0.0100	pay 0.0013% / 1h	7m 02s	$71K	$84K	10x
Short	KuCoin ONDOUSDTM	0.4500	0.0100	get 0.0050% / 4h	2h 07m	$13.4M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.440%Rate

Funding earned: $0
Price spread: −0.440% → 0.000%: −$44.03
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$61.03
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	2.22 bp	17.2 bp −$17	33.2 bp −$332	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	−0.1130%	1h	0.4501	−0.417%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4503	−0.374%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4502	−0.386%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4517	−0.060%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.046%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4503	−0.374%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4507	−0.274%	$423K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4504	−0.352%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4501	−0.411%	$66.3M	$220.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4500	−0.440%	$72.9M	$118.1M	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-SWAP	+0.0100%	4h	0.4502	−0.396%	$17.6M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.Plong	+0.0100%	1h	0.4520	long leg	$71K	$84K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4505	−0.324%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4501	−0.418%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4501	−0.418%	$47.1M	$45.7M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4500	−0.440%	$13.4M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4501	−0.418%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4500	−0.440%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4503	−0.363%	$194K	$973K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4506	−0.299%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4516	−0.087%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4514	−0.124%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4518	−0.042%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4504	−0.352%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4503	−0.374%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4503	−0.374%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4516	−0.086%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4504	−0.352%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.326%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4502	−0.398%	$401K	$948K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4506	−0.316%	$35K	—	3x	as long as short
Hyperliquid ONDO	+0.0284%	1h	0.4507	−0.277%	$40.2M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4506	−0.308%	$301K	$838K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	−0.175%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4509	−0.248%	$371	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4511	−0.192%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4502	−0.391%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4504	−0.358%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9271%	1h	0.4508	−0.273%	$255K	$129K	5x	as long as short