Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Ondo Perps−0.055%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 Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.200%−$20 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: Phemex is 0.055% cheaper against Ondo Perps than usual: you would sell low and buy high, −$6 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	0.4341	0.0100	pay 0.0013% / 1h	51m 00s	$71K	$81K	10x
Short	Phemex ONDOUSDT	0.4339	0.0100	get 0.0050% / 4h	3h 51m	$4.2M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → 0.000%: −$5.53
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$22.53
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	6.93 bp	19.4 bp −$19	24.7 bp −$247	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	−0.0176%	1h	0.4340	−0.033%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.032%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.220%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4344	+0.053%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	+0.014%	$347K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4342	+0.020%	$762K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4339	−0.055%	$63.4M	$234.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4337	−0.101%	$68.4M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4339	−0.055%	$17.4M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.Plong	+0.0100%	1h	0.4341	long leg	$71K	$81K	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	0.4338	−0.083%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4338	−0.078%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4338	−0.078%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4339	−0.055%	$12.2M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4338	−0.078%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4339	−0.055%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4340	−0.039%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4321	−0.475%	$679K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4330	−0.255%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	−0.204%	$408K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.240%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	−0.032%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	−0.032%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	−0.170%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4341	−0.009%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.175%	$129K	$369K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4339	−0.055%	$4.2M	$9.0M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4333	−0.193%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	−0.069%	$364K	$829K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4343	+0.048%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4344	+0.060%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	−0.055%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4332	−0.212%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0328%	1h	0.4341	−0.014%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.078%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4340	−0.039%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0634%	1h	0.4343	+0.046%	$36.7M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4342	+0.008%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1662%	1h	0.4328	−0.302%	$243K	$155K	5x	as long as short