Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.083%

Price spread now: Kraken Futures against Paradex+0.015%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 Kraken Futures

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: −$1 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	0.4410	0.0104	pay 0.0104% / 8h	5h 12m	$6K	—	10x
Short	Kraken Futures PF_ONDOUSD	0.4410	0.0061	get 0.0008% / 1h	12m 28s	$2.6M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$9
Price spread: +0.015% → 0.000%: $1.46
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$21.55
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 2 min ago	4.53 bp	20.7 bp −$21	29.3 bp −$293	426.6 bp −$42.7K	doesn't fit

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
dYdX ONDO-USD	+0.0001%	1h	0.4409	−0.015%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4414	+0.100%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.588%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDshort	+0.0061%	1h	0.4410	+0.015%	$2.6M	$8.2M	50x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4411	+0.027%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	−0.029%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4410	+0.010%	$64.2M	$225.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4408	−0.041%	$69.9M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	+0.005%	$17.1M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4426	+0.361%	$73K	$86K	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	0.4409	−0.017%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4408	−0.041%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	+0.005%	$47.6M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4407	−0.063%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4409	−0.018%	$25.2M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4410	+0.005%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4430	+0.450%	$718K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4435	+0.571%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4435	+0.581%	$414K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4436	+0.594%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4411	+0.023%	$67K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4419	+0.209%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4412	+0.050%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4420	+0.231%	$130K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4409	−0.018%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0104%	8h	0.4410	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4408	−0.033%	$398K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4414	+0.095%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0138%	1h	0.4412	+0.055%	$38.2M	$24.3M	10x	as long as short
Aster ONDOUSDT	+0.0187%	4h	0.4410	+0.016%	$710K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0189%	1h	0.4409	−0.020%	$191K	$979K	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4413	+0.073%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4427	+0.381%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4414	+0.095%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4412	+0.059%	$363	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.277%	$281K	$727K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4413	+0.070%	$487K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4417	+0.159%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4409	−0.009%	$2K	—	20x	as long as short