Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= +0.1% APRpaid last 24h +0.002%

Price spread now: Ondo Perps against Orderly+0.173%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 Ondo Perps

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 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: Ondo Perps is 0.173% dearer against Orderly than usual: you sell high and buy low, +$17 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	0.4388	0.0100	pay 0.0050% / 4h	1h 38m	$24K	$6K	10x
Short	Ondo Perps ONDO-USD.P	0.4396	0.0100	get 0.0013% / 1h	38m 33s	$72K	$86K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.173%Rate

Funding earned: $0.1
Price spread: +0.173% → 0.000%: $17.32
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $6.42
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Ondo Perps: 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 Orderly no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Orderly and 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
dYdX ONDO-USD	0.0000%	1h	0.4389	+0.030%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4388	−0.001%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.102%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4387	−0.029%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4388	long leg	$24K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4394	+0.125%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4390	+0.056%	$63.7M	$225.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4389	+0.023%	$69.3M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	+0.046%	$16.9M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4396	+0.173%	$72K	$86K	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	0.4390	+0.054%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4392	+0.091%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4392	+0.091%	$47.1M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4393	+0.114%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4394	+0.137%	$25.1M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4392	+0.091%	—	$757K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4395	+0.151%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4396	+0.187%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	+0.490%	$407K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	+0.387%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.134%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4389	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	+0.023%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4397	+0.205%	$129K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4389	+0.023%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4392	+0.095%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4394	+0.132%	$397K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	+0.082%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0125%	4h	0.4395	+0.160%	$710K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0135%	1h	0.4397	+0.211%	$38.2M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0177%	1h	0.4390	+0.036%	$189K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4410	+0.504%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.137%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4400	+0.273%	$282K	$702K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4395	+0.157%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	+0.046%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4389	+0.014%	$484K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4402	+0.324%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4394	+0.147%	$2K	—	20x	as long as short