Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Phemex−0.185%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: 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: Ondo Perps is 0.185% cheaper against Phemex than usual: you would sell low and buy high, −$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	Phemex ONDOUSDT	0.4277	0.0100	pay 0.0050% / 4h	1h 30m	$4.1M	$8.4M	50x
Short	Ondo Perps ONDO-USD.P	0.4269	0.0100	get 0.0013% / 1h	30m 21s	$68K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phemex. 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 PhemexbpFee Ondo PerpsbpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → 0.000%: −$18.47
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$35.47
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Ondo Perps: 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 Phemex live order book, 2 min ago	2.34 bp	14.6 bp −$15	20.6 bp −$206	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 exchanges

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	−0.0329%	1h	0.4277	−0.012%	$2.5M	$7.0M	50x	as long as short
01 Exchange ONDOUSD	−0.0016%	1h	0.4276	−0.026%	$352	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4279	+0.047%	$21K	$365K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4276	−0.031%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.804%	$888	$215K	5.5x	as long as short
Bybit ONDOUSDT	+0.0045%	4h	0.4277	0.000%	$66.3M	$116.5M	50x	as long as short
Lighter ONDO	+0.0096%	1h	0.4280	+0.079%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4276	−0.023%	$23K	$7K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4281	+0.103%	$35.7M	$26.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4281	+0.100%	$759K	$2.9M	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4276	−0.014%	$61.7M	$222.4M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4275	−0.047%	$16.8M	$67.3M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4269	−0.185%	$68K	$74K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4275	−0.036%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4280	+0.070%	$13.8M	$13.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4280	+0.070%	$43.1M	$41.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4277	0.000%	$13.0M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4278	+0.023%	$24.7M	$33.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4278	+0.023%	—	$23.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4274	−0.063%	$181K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4270	−0.152%	$666K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4268	−0.203%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4273	−0.094%	$398K	$2.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4281	+0.094%	$86K	$353K	50x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4278	+0.018%	$330K	$833K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4281	+0.084%	$55K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4276	−0.023%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4277	0.000%	$445	$16K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4276	−0.023%	$105K	$462K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4277	long leg	$4.1M	$8.4M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4275	−0.042%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4275	−0.049%	$346K	$769K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4279	+0.035%	$37K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0174% / S +0.0228%	1h	0.4279	+0.058%	$348K	—	100x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4275	−0.035%	$34K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4277	0.000%	$211K	$606K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4274	−0.070%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1167%	1h	0.4275	−0.055%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3844%	1h	0.4274	−0.066%	$245K	$159K	5x	as long as short