Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h +1.394%

Price spread now: dYdX against Paradex+0.014%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4411	0.0102	pay 0.0102% / 8h	3h 51m	$6K	—	10x
Short	dYdX ONDO-USD	0.4412	0	get 0.0000% / 1h	51m 57s	$250K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Paradex. 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 ParadexbpFee dYdXbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$21.43
Price spread: +0.014% → 0.000%: $1.44
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$33.99
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; dYdX: 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 Paradex no order-book sample	—	—	—	—	—
Sell dYdX live order book, 2 min ago	18.13 bp	66.2 bp −$66	201.9 bp −$2,019	230.4 bp −$23.0K	855.9 bp −$427.9K

Paradex: 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	−0.0159%	1h	0.4407	−0.101%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4412	+0.014%	$250K	$129K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4410	−0.028%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.558%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4413	+0.046%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4409	−0.047%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4412	+0.016%	$364K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4412	+0.029%	$63.8M	$231.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4409	−0.047%	$68.4M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4412	+0.021%	$17.3M	$73.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4414	+0.071%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	−0.035%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4410	−0.024%	$11.7M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	−0.001%	$43.9M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4412	+0.021%	$12.8M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4411	−0.001%	$25.3M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4411	−0.001%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4411	−0.006%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.484%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4399	−0.273%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.446%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4398	−0.296%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4412	+0.033%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4409	−0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	−0.047%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4418	+0.157%	$131K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4408	−0.069%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4411	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4412	+0.016%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4411	−0.006%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4412	+0.026%	$363	$2K	10x	as long as short
Aster ONDOUSDT	+0.0228%	4h	0.4414	+0.067%	$764K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4412	+0.021%	$272K	$733K	50x	as long as short
Hyperliquid ONDO	+0.0323%	1h	0.4415	+0.094%	$38.0M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4398	−0.296%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4411	−0.001%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4410	−0.024%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4409	−0.050%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4413	+0.038%	$2K	—	20x	as long as short