Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Paradex−0.116%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 Polymarket Perps

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: Polymarket Perps is 0.116% cheaper against Paradex than usual: you would sell low and buy high, −$12 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	0.4562	0.0102	pay 0.0102% / 8h	1h 34m	$7K	$9	10x
Short	Polymarket Perps ONDO-USD	0.4556	0.0100	get 0.0013% / 1h	34m 00s	$73K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$0.36
Price spread: −0.116% → 0.000%: −$11.58
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.94
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Polymarket Perps: live order book, 4 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 Polymarket Perps live order book, 4 min ago	1.64 bp	5.6 bp −$6	6.2 bp −$62	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	−0.0352%	1h	0.4561	−0.024%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4557	−0.095%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4558	−0.081%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4553	−0.190%	$430K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4563	+0.025%	$731K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4564	+0.053%	$67.4M	$225.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4566	+0.095%	$74.4M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4566	+0.095%	$17.8M	$81.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.244%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.153%	—	—	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	0.4559	−0.059%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4565	+0.073%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4564	+0.051%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4567	+0.117%	$25.8M	$41.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4564	+0.051%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4565	+0.073%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4567	+0.116%	$778K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4571	+0.199%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.231%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4556	−0.116%	$73K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4561	−0.015%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4563	+0.029%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4567	+0.117%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4561	−0.015%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4562	long leg	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4567	+0.120%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4566	+0.085%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	+0.070%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.138%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4562	+0.007%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.278%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4561	−0.015%	$299K	$865K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4559	−0.059%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4556	−0.122%	$375	$2K	10x	as long as short
Hyperliquid ONDO	+0.0475%	1h	0.4567	+0.123%	$40.9M	$27.5M	10x	as long as short
Lighter ONDO	+0.0584%	1h	0.4571	+0.198%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0636% / S −0.0211%	1h	0.4556	−0.116%	$578K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4556	−0.126%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1748%	1h	0.4565	+0.083%	$258K	$130K	5x	as long as short