Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1047%/8h= −114.7% APRpaid last 24h −0.306%

Price spread now: Binance against Reya−0.130%55s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Binance

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 airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Binance is 0.130% cheaper against Reya than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4421	0.1147	pay 0.0143% / 1h	24m 30s	$2K	—	20x
Short	Binance ONDOUSDT	0.4415	0.0100	get 0.0050% / 4h	2h 24m	$64.1M	$231.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now −0.130%Rate

Funding earned: −$219.95
Price spread: −0.130% → 0.000%: −$13.01
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$248.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Binance: live order book, 4 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	1.13 bp	9.0 bp −$9	17.8 bp −$178	54.7 bp −$5,469	352.4 bp −$176.2K

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	−0.0362%	1h	0.4414	−0.149%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4415	−0.124%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4419	−0.042%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.331%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4419	−0.040%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4417	−0.074%	$387K	$860K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4417	−0.085%	$673K	$2.1M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4415	−0.130%	$64.1M	$231.5M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4416	−0.107%	$70.0M	$125.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	−0.107%	$17.1M	$75.8M	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	0.4400	−0.472%	$72K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4414	−0.146%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4413	−0.175%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4413	−0.175%	$44.2M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4418	−0.062%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4415	−0.130%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4416	−0.107%	—	$762K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4422	+0.023%	$770K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4418	−0.059%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	−0.042%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.130%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4423	+0.044%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4420	−0.017%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4420	−0.017%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4426	+0.119%	$130K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4414	−0.144%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4415	−0.123%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4422	+0.028%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0119%	1h	0.4417	−0.092%	$202K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4420	−0.017%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0297%	1h	0.4420	−0.017%	$39.1M	$25.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.028%	$284K	$746K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.085%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4417	−0.083%	$364	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4419	−0.040%	$488K	—	100x	as long as short
Phemex ONDOUSDT	+0.0637%	4h	0.4415	−0.130%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0808%	1h	0.4426	+0.110%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1147%	1h	0.4421	long leg	$2K	—	20x