Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Extended against Orderly+0.049%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropExtended: 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: Extended is 0.049% dearer against Orderly than usual: you sell high and buy low, +$5 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	Orderly PERP_ONDO_USDC	0.4308	0.0100	pay 0.0050% / 4h	2h 38m	$23K	$6K	10x
Short	Extended ONDO-USD	0.4310	0.0104	get 0.0013% / 1h	38m 12s	$387K	$795K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0.84
Price spread: +0.049% → 0.000%: $4.89
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$5.27
Costs to cover: 0.110%
Break-even: 50.9 days

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 10 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 10 min ago	3.45 bp	6.0 bp −$6	15.3 bp −$153	doesn't fit	doesn't fit

Orderly: 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	−0.0242%	1h	0.4309	+0.021%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4312	+0.093%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4308	0.000%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0023%	1h	0.4306	−0.038%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.035%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4309	+0.021%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4315	+0.156%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4311	+0.075%	$351K	$876K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4311	+0.077%	$36.1M	$25.7M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4312	+0.093%	$775K	$2.6M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4312	+0.093%	$62.1M	$235.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4312	+0.093%	$67.1M	$125.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4314	+0.139%	$17.2M	$73.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	+0.144%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4307	−0.015%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4309	+0.023%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4309	+0.023%	$42.6M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4309	+0.023%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4311	+0.070%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4310	+0.046%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4304	−0.088%	$176K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	−0.027%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.305%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4306	−0.044%	$399K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	+0.046%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4311	+0.077%	$68K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4308	long leg	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4310	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4312	+0.093%	$448	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4317	+0.209%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4312	+0.093%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4308	−0.006%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4310	+0.049%	$387K	$795K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4313	+0.116%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.882%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4323	+0.355%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4304	−0.093%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4307	−0.013%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4311	+0.071%	$2K	—	20x	as long as short