Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.155%

Price spread now: Lighter against Paradex+0.179%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.179% dearer against Paradex than usual: you sell high and buy low, +$18 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	0.4408	0.0102	pay 0.0102% / 8h	3h 51m	$6K	—	10x
Short	Lighter ONDO	0.4416	0.0096	get 0.0012% / 1h	51m 49s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.179%Rate

Funding earned: −$1.26
Price spread: +0.179% → 0.000%: $17.94
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $12.67
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 5 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 Lighter live order book, 5 min ago	5.01 bp	11.3 bp −$11	24.8 bp −$248	doesn't fit	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
Kraken Futures PF_ONDOUSD	−0.0159%	1h	0.4407	−0.027%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4407	−0.013%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4410	+0.047%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.635%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4416	+0.179%	$1.1M	$2.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4409	+0.027%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4412	+0.090%	$364K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4408	+0.005%	$63.7M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4406	−0.041%	$68.4M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4408	+0.005%	$17.3M	$73.5M	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	+0.145%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	+0.039%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4410	+0.050%	$11.7M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	+0.073%	$43.9M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4412	+0.095%	$12.8M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4411	+0.073%	$25.3M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4412	+0.095%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4411	+0.068%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.410%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4399	−0.199%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.373%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4398	−0.222%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4412	+0.107%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4409	+0.027%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	+0.027%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4418	+0.232%	$131K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4408	+0.005%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4408	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4412	+0.090%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4411	+0.068%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4412	+0.100%	$363	$2K	10x	as long as short
Aster ONDOUSDT	+0.0234%	4h	0.4411	+0.083%	$763K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4412	+0.095%	$272K	$733K	50x	as long as short
Hyperliquid ONDO	+0.0321%	1h	0.4415	+0.168%	$38.0M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4398	−0.222%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4411	+0.073%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4410	+0.050%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4409	+0.024%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4413	+0.112%	$2K	—	20x	as long as short