Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1051%/8h= −115.1% APRpaid last 24h −0.308%

Price spread now: Bitget against Reya−0.017%7-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 Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$32 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4367	0.1151	pay 0.0144% / 1h	51m 29s	$2K	—	20x
Short	Bitget ONDOUSDT	0.4366	0.0100	get 0.0050% / 4h	51m 29s	$25.0M	$39.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$220.66
Price spread: −0.017% → 0.000%: −$1.68
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$240.34
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.14 bp	12.9 bp −$13	18.5 bp −$185	59.5 bp −$5,945	doesn't fit

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 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	0.4365	−0.049%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0017%	1h	0.4367	+0.011%	$247K	$129K	5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4371	+0.088%	$2.6M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.609%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4371	+0.098%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4367	+0.012%	$370K	$842K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4368	+0.037%	$37.6M	$24.4M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4367	−0.004%	$63.0M	$228.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4366	−0.017%	$69.2M	$123.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4367	+0.006%	$16.9M	$71.3M	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	0.4386	+0.450%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4366	−0.022%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4368	+0.029%	$11.5M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4366	−0.017%	$47.1M	$41.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4366	−0.017%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4366	−0.017%	$25.0M	$39.5M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4369	+0.052%	—	$21.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4373	+0.144%	$188K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	+0.528%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	+0.526%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4389	+0.511%	$405K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4387	+0.464%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4367	+0.002%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4381	+0.327%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4372	+0.121%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4381	+0.327%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4372	+0.121%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4368	+0.025%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4367	+0.008%	$397K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4373	+0.136%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0208%	1h	0.4373	+0.144%	$23K	$346K	25x	as long as short
Aster ONDOUSDT	+0.0209%	4h	0.4370	+0.075%	$733K	$2.3M	20x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4366	−0.024%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.624%	$276K	$719K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4393	+0.602%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4378	+0.265%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0549% / S −0.0190%	1h	0.4371	+0.108%	$482K	—	100x	as long as short
Lighter ONDO	+0.0568%	1h	0.4373	+0.144%	$1.2M	$2.3M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1151%	1h	0.4367	long leg	$2K	—	20x