Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Paradex+0.166%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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 pays, funding is against you. gTrade (Gains Network) is 0.166% dearer against Paradex than usual: you sell high and buy low (spread +0.166% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4566	0.0101	pay 0.0101% / 8h	1h 26m	$7K	$9	10x
Short	gTrade (Gains Network) ONDO/USD	0.4573	L +0.0003% / S −0.0008%	get 0.0001% / 1h	26m 24s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.166%Rate

Funding earned: −$19.53
Price spread: +0.166% → 0.000%: $16.65
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$16.89
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; gTrade (Gains Network): 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 Paradex no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Paradex and gTrade (Gains Network): 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	−0.0352%	1h	0.4573	+0.167%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0008%	1h	0.4573	+0.166%	$6K	—	150x
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4573	+0.162%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4573	+0.156%	$431K	$700K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4575	+0.210%	$733K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4577	+0.240%	$67.6M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4575	+0.205%	$74.5M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4575	+0.205%	$17.8M	$81.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4584	+0.398%	$74K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	+0.006%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4573	+0.162%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4575	+0.205%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4572	+0.140%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4575	+0.205%	$25.9M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4574	+0.184%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4576	+0.221%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.585%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4554	−0.251%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4558	−0.163%	$427K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4556	−0.211%	$163K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	+0.203%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4572	+0.140%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4575	+0.205%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.249%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4574	+0.184%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0101%	8h	0.4566	long leg	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4566	+0.018%	$409K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4580	+0.306%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.244%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.052%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4575	+0.205%	$300K	$866K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	+0.162%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4573	+0.168%	$376	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4575	+0.205%	$26K	$396K	25x	as long as short
Hyperliquid ONDO	+0.0418%	1h	0.4577	+0.240%	$41.0M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0624% / S −0.0204%	1h	0.4573	+0.163%	$570K	—	100x	as long as short
Lighter ONDO	+0.0680%	1h	0.4577	+0.240%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4575	+0.203%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3181%	1h	0.4570	+0.101%	$259K	$129K	5x	as long as short