Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1041%/8h= −114.0% APRpaid last 24h −0.304%

Price spread now: OKX against Reya+0.133%7-day average — · you sell dearer than you buy

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

Long on Reya Short on OKX

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 pays, funding is against you. OKX is 0.133% dearer against Reya than usual: you sell high and buy low (spread +0.133% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4604	0.1141	pay 0.0143% / 1h	20m 46s	$2K	—	20x
Short	OKX ONDO-USDT-SWAP	0.4610	0.0100	get 0.0050% / 4h	1h 20m	$18.0M	$82.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$218.62
Price spread: +0.133% → 0.000%: $13.3
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$221.32
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.09 bp	10.1 bp −$10	22.1 bp −$221	doesn't fit	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
Kraken Futures PF_ONDOUSD	−0.0349%	1h	0.4602	−0.034%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4603	−0.016%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4603	−0.019%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4607	+0.068%	$435K	$701K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4612	+0.176%	$737K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4612	+0.167%	$68.3M	$226.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4612	+0.176%	$75.8M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAPshort	+0.0100%	4h	0.4610	+0.133%	$18.0M	$82.4M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	−0.351%	$75K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4606	+0.050%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4609	+0.111%	$12.1M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4610	+0.133%	$49.7M	$44.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4609	+0.111%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4612	+0.176%	$26.2M	$41.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4611	+0.155%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4570	−0.737%	$781K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4578	−0.568%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4578	−0.567%	$429K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4578	−0.562%	$164K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4606	+0.044%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4604	+0.003%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4606	+0.046%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	+0.198%	$134K	$510K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4603	−0.019%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4608	+0.080%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4609	+0.113%	$411K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4606	+0.035%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0117%	1h	0.4605	+0.013%	$237K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4608	+0.100%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.779%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4605	+0.024%	$43K	$421K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4609	+0.111%	$302K	$876K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4602	−0.041%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4612	+0.172%	$380	$2K	10x	as long as short
Hyperliquid ONDO	+0.0418%	1h	0.4617	+0.274%	$41.4M	$26.4M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0187%	1h	0.4603	−0.021%	$549K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4620	+0.357%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1141%	1h	0.4604	long leg	$2K	—	20x
dYdX ONDO-USD	+0.3923%	1h	0.4607	+0.077%	$261K	$129K	5x	as long as short