Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: SoDEX against Paradex+0.085%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 SoDEX

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: SoDEX is 0.085% dearer against Paradex than usual: you sell high and buy low, +$9 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	0.4375	0.0101	pay 0.0101% / 8h	6h 59m	$6K	—	10x
Short	SoDEX ONDO-USD	0.4379	0.0100	get 0.0013% / 1h	59m 37s	$2K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$0.17
Price spread: +0.085% → 0.000%: $8.51
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$3.66
Costs to cover: 0.120%
Break-even: never at this rate

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

Paradex and SoDEX: 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	−0.0174%	1h	0.4379	+0.083%	$2.5M	$7.4M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	+0.080%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.405%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4381	+0.140%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4381	+0.142%	$343K	$874K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4381	+0.136%	$36.8M	$27.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4379	+0.088%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4378	+0.051%	$63.9M	$228.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4374	−0.029%	$68.9M	$120.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4376	+0.017%	$17.5M	$70.4M	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	0.4381	+0.128%	$72K	$77K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4380	+0.112%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4378	+0.062%	$13.6M	$15.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4376	+0.017%	$44.4M	$40.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4377	+0.039%	$13.1M	$10.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4377	+0.039%	$25.5M	$35.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4376	+0.017%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4378	+0.062%	$186K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4372	−0.082%	$776K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4385	+0.227%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4388	+0.290%	$406K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4385	+0.222%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4383	+0.181%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4378	+0.062%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4382	+0.154%	—	$1.3M	20x	as long as short
SoDEX ONDO-USDshort	+0.0100%	1h	0.4379	+0.085%	$2K	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4387	+0.268%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4378	+0.062%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0101%	8h	0.4375	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4379	+0.091%	$365K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	+0.127%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0207%	1h	0.4380	+0.108%	$24K	$363K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4382	+0.154%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4383	+0.176%	$216K	$711K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4389	+0.304%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	+0.039%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4376	+0.020%	$506K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4377	+0.042%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2892%	1h	0.4378	+0.069%	$250K	$159K	5x	as long as short