Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0002%/8h= +0.3% APRpaid last 24h 0.000%

Price spread now: Paradex against Phemex+0.010%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Paradex

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4372	0.0100	pay 0.0050% / 4h	40m 58s	$4.2M	$7.8M	50x
Short	Paradex ONDO-USD-PERP	0.4372	0.0102	get 0.0102% / 8h	4h 40m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0.48
Price spread: +0.010% → 0.000%: $1.02
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$14.5
Costs to cover: 0.160%
Break-even: 217.5 days

Slippage unknown: Phemex: live order book, 3 min ago; Paradex: 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, 3 min ago	3.42 bp	16.5 bp −$17	24.2 bp −$242	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4369	−0.072%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4371	−0.024%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.483%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4371	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4372	−0.006%	$370K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4381	+0.204%	$37.6M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4381	+0.209%	$63.1M	$229.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4379	+0.160%	$69.2M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4382	+0.229%	$16.9M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4381	+0.204%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4370	−0.053%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4372	0.000%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4373	+0.023%	$45.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4371	−0.023%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4381	+0.206%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4374	+0.046%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4375	+0.073%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	−0.076%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.130%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.089%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	+0.091%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4373	+0.027%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4373	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4373	+0.023%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4380	+0.183%	$127K	$477K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4372	long leg	$4.2M	$7.8M	50x
Paradex ONDO-USD-PERPshort	+0.0102%	8h	0.4372	+0.010%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4380	+0.186%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4374	+0.048%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0120%	1h	0.4377	+0.121%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0214%	4h	0.4374	+0.041%	$743K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4372	+0.005%	$360	$2K	10x	as long as short
dYdX ONDO-USD	+0.0241%	1h	0.4368	−0.100%	$247K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.503%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	+0.114%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.034%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4369	−0.080%	$519K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0665%	1h	0.4374	+0.046%	$23K	$346K	25x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4371	−0.024%	$2K	—	20x	as long as short