Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h —

Price spread now: BloFin against RISEx−0.175%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.175% cheaper against RISEx than usual: you would sell low and buy high (spread −0.175% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.4 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4336	0.0100	pay 0.0013% / 1h	38m 21s	—	—	5x
Short	BloFin ONDO-USDT	0.4328	0.0340	get 0.0170% / 4h	3h 38m	$3.2M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 RISExbpFee BloFinbpOrdersPrice spread, now −0.175%Rate

Funding earned: $50.4
Price spread: −0.175% → 0.000%: −$17.45
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $14.95
Costs to cover: 0.180%
Break-even: 4.9 days

Slippage unknown: RISEx: no order-book sample; BloFin: live order book, 5 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 RISEx no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	2.31 bp	8.3 bp −$8	10.7 bp −$107	28.7 bp −$2,875	111.8 bp −$55.9K

RISEx: 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	−0.0177%	1h	0.4327	−0.202%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4337	+0.024%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.361%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4337	+0.028%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4338	+0.056%	$345K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4339	+0.072%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4338	+0.047%	$63.4M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4335	−0.013%	$68.3M	$121.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4337	+0.033%	$17.3M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4337	+0.038%	$71K	$79K	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/USDClong	+0.0100%	1h	0.4336	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.036%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	+0.033%	$44.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.013%	$12.2M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	+0.010%	$24.9M	$36.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4336	+0.010%	—	$779K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4331	−0.110%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4327	−0.203%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4329	−0.146%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	−0.130%	$399K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4329	−0.151%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	−0.082%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4334	−0.036%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	−0.082%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4327	−0.198%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4335	−0.013%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4331	−0.105%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4332	−0.089%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4336	+0.008%	$363K	$832K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4338	+0.066%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4338	+0.056%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	+0.079%	$214K	$719K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4338	+0.061%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4338	+0.052%	$357	$2K	10x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4328	−0.175%	$3.2M	$3.1M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4336	+0.003%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0619%	1h	0.4341	+0.132%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4338	+0.050%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2741%	1h	0.4333	−0.060%	$243K	$155K	5x	as long as short