Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.003%

Price spread now: Gate against Paradex−0.022%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Gate

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.022% cheaper against Paradex than usual: you would sell low and buy high, −$2 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	Paradex ONDO-USD-PERP	0.4393	0.0102	pay 0.0102% / 8h	4h 02m	$6K	—	10x
Short	Gate ONDO_USDT	0.4392	0.0100	get 0.0050% / 4h	2m 23s	$11.6M	$16.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: −$0.43
Price spread: −0.022% → 0.000%: −$2.16
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$21.59
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago	1.14 bp	20.5 bp −$20	38.4 bp −$384	46.5 bp −$4,651	77.7 bp −$38.8K

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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4392	−0.025%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4393	+0.004%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.985%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4396	+0.065%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4393	+0.001%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	−0.027%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4394	+0.027%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4392	−0.022%	$68.0M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4396	+0.069%	$17.1M	$73.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4386	−0.151%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4392	−0.026%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4392	−0.022%	$11.6M	$16.4M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4393	+0.001%	$44.9M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4393	+0.001%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4395	+0.047%	$25.2M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4393	+0.001%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4394	+0.015%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.437%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4375	−0.402%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	−0.272%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4375	−0.409%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.024%	$79K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	+0.001%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4396	+0.069%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4400	+0.161%	$127K	$436K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	+0.001%	$4.3M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4393	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4394	+0.030%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.101%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0143%	1h	0.4398	+0.106%	$37.8M	$24.7M	10x	as long as short
dYdX ONDO-USD	+0.0207%	1h	0.4390	−0.056%	$248K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4394	+0.013%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0226%	4h	0.4395	+0.052%	$761K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4393	+0.001%	$271K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.024%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4379	−0.318%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4392	−0.015%	$522K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0661%	1h	0.4397	+0.092%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4394	+0.029%	$2K	—	20x	as long as short