Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.050%

Price spread now: 01 Exchange against Phemex+0.059%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 01 Exchange

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—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and 01 Exchange is 0.059% dearer against Phemex than usual: you sell high and buy low: +$6 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	Phemex ONDOUSDT	0.4388	0.0100	pay 0.0050% / 4h	3h 03m	$4.3M	$8.9M	50x
Short	01 Exchange ONDOUSD	0.4391	0.0256	get 0.0032% / 1h	3m 32s	$361	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.059%Rate

Funding earned: $32.76
Price spread: +0.059% → 0.000%: $5.93
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $19.69
Costs to cover: 0.190%
Break-even: 2.8 days

Slippage unknown: Phemex: live order book, 5 min ago; 01 Exchange: 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, 5 min ago	6.85 bp	21.7 bp −$22	28.9 bp −$289	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	0.4387	−0.026%	$2.5M	$7.4M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4388	−0.002%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.102%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4395	+0.150%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4389	+0.023%	$344K	$875K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4390	+0.046%	$765K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4389	+0.023%	$64.0M	$229.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4386	−0.046%	$69.0M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4386	−0.046%	$17.5M	$70.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	+0.075%	$72K	$77K	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	0.4389	+0.020%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4388	0.000%	$13.6M	$15.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4388	0.000%	$44.4M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4389	+0.023%	$13.1M	$10.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4388	0.000%	$25.6M	$35.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4388	0.000%	—	$22.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4389	+0.018%	$186K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.096%	$777K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4385	−0.063%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4388	0.000%	$406K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4385	−0.068%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4390	+0.046%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4388	0.000%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4390	+0.046%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4390	+0.046%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4396	+0.182%	$133K	$363K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4388	long leg	$4.3M	$8.9M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4389	+0.026%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4386	−0.043%	$365K	$803K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	+0.091%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0206%	1h	0.4390	+0.046%	$24K	$363K	25x	as long as short
01 Exchange ONDOUSDshort	+0.0256%	1h	0.4391	+0.059%	$361	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4392	+0.091%	$217K	$711K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4389	+0.014%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4388	0.000%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0384%	1h	0.4391	+0.075%	$36.9M	$27.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4389	+0.013%	$508K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4387	−0.018%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2876%	1h	0.4386	−0.039%	$251K	$159K	5x	as long as short