Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1044%/8h= −114.3% APRpaid last 24h −0.306%

Price spread now: Paradex against Reya+0.112%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 Paradex

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 · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.112% dearer against Reya than usual: you sell high and buy low (spread +0.112% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4461	0.1147	pay 0.0143% / 1h	47m 42s	$2K	—	20x
Short	Paradex ONDO-USD-PERP	0.4466	0.0103	get 0.0103% / 8h	6h 47m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$219.23
Price spread: +0.112% → 0.000%: $11.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$218.01
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Reya and 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
Kraken Futures PF_ONDOUSD	−0.0358%	1h	0.4462	+0.029%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4454	−0.154%	$252K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4460	−0.025%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.398%	$888	$216K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0082%	1h	0.4469	+0.179%	$165K	$356K	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4461	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4464	+0.056%	$407K	$780K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4464	+0.062%	$687K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4464	+0.067%	$65.8M	$227.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4462	+0.022%	$71.9M	$122.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4463	+0.045%	$17.2M	$76.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4464	+0.072%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4462	+0.024%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4461	0.000%	$11.7M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4463	+0.045%	$45.6M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4465	+0.089%	$13.5M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4463	+0.045%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4463	+0.045%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4465	+0.096%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4468	+0.152%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4457	−0.094%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4467	+0.134%	$420K	$965K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4466	+0.116%	$77K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4461	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4463	+0.045%	$464	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4471	+0.224%	$131K	$500K	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0103%	8h	0.4466	+0.112%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4463	+0.053%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4466	+0.101%	$39K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0198%	1h	0.4462	+0.022%	$33K	$339K	25x	as long as short
Hyperliquid ONDO	+0.0239%	1h	0.4467	+0.145%	$39.5M	$25.4M	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4466	+0.112%	$368	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4460	−0.023%	$290K	$798K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4476	+0.325%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	+0.224%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0186%	1h	0.4458	−0.056%	$533K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4462	+0.029%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.0633%	4h	0.4467	+0.134%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERPlong	+0.1147%	1h	0.4461	long leg	$2K	—	20x