Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1046%/8h= +114.5% APRpaid last 24h +0.306%

Price spread now: Reya against Paradex+0.101%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 Reya

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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Reya is 0.101% dearer against Paradex than usual: you sell high and buy low: +$10 more if the spread 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	0.4404	0.0103	pay 0.0103% / 8h	6h 04m	$6K	—	10x
Short	Reya ONDORUSDPERP	0.4408	0.1148	get 0.0144% / 1h	4m 12s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.101%Rate

Funding earned: $219.56
Price spread: +0.101% → 0.000%: $10.1
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $219.66
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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 38 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	−0.0363%	1h	0.4402	−0.032%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4397	−0.151%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4406	+0.051%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.730%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4401	−0.062%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	+0.131%	$381K	$837K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4409	+0.119%	$671K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4408	+0.097%	$64.0M	$228.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4405	+0.028%	$69.8M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4404	+0.006%	$17.0M	$72.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.346%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	+0.148%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4404	+0.006%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4408	+0.097%	$46.6M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4407	+0.074%	$13.1M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4403	−0.017%	$25.0M	$39.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4406	+0.051%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4393	−0.250%	$761K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4392	−0.263%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4386	−0.412%	$404K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.335%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4409	+0.124%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4412	+0.187%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4405	+0.028%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4410	+0.142%	$129K	$487K	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0103%	8h	0.4404	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4402	−0.028%	$398K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4405	+0.028%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0168%	1h	0.4399	−0.110%	$196K	$994K	15x	as long as short
Phemex ONDOUSDT	+0.0204%	4h	0.4403	−0.017%	$4.2M	$7.5M	50x	as long as short
Hyperliquid ONDO	+0.0232%	1h	0.4410	+0.144%	$38.7M	$24.1M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.414%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4393	−0.246%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	+0.147%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4404	+0.006%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4404	+0.003%	$486K	—	100x	as long as short
Lighter ONDO	+0.0792%	1h	0.4413	+0.201%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1148%	1h	0.4408	+0.101%	$2K	—	20x