Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0555%/8h= +60.8% APRnext payment +$0.69 per $10,000 · paid last 24h —

Price spread now: Deribit against RISEx+0.068%7-day average — · you sell dearer than you buy

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

Long on RISEx Short on Deribit

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

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Deribit is 0.068% dearer against RISEx than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4421	0.0100	pay 0.0013% / 1h	32m 48s	—	—	5x
Short	Deribit ONDO_USDC-PERPETUAL	0.4424	0.0655	get 0.0082% / 1h	32m 48s	$23K	$349K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against RISEx. 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 RISExbpFee DeribitbpOrdersPrice spread, now +0.068%Rate

Funding earned: $116.55
Price spread: +0.068% → 0.000%: $6.81
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $110.36
Costs to cover: 0.130%
Break-even: 0.4 days

Slippage unknown: RISEx: no order-book sample; Deribit: live order book, 31 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 Deribit live order book, 31 min ago	6.80 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit

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
dYdX ONDO-USD	0.0000%	1h	0.4416	−0.113%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4420	−0.011%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.325%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4421	+0.008%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4421	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4424	+0.074%	$375K	$838K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4423	+0.045%	$64.3M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4420	−0.022%	$69.9M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4420	−0.022%	$17.1M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4419	−0.043%	$72K	$87K	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	0.4421	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4419	−0.045%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4422	+0.023%	$46.9M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4421	0.000%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4421	0.000%	$25.2M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4422	+0.023%	—	$21.8M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.279%	$713K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4414	−0.164%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4415	−0.136%	$408K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	−0.090%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4425	+0.089%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4424	+0.068%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4424	+0.068%	$460	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4428	+0.159%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4423	+0.046%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4420	−0.028%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4426	+0.104%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4424	+0.068%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0152%	4h	0.4426	+0.113%	$714K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0196%	1h	0.4423	+0.055%	$38.4M	$24.5M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0208%	1h	0.4424	+0.064%	$191K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.529%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4421	0.000%	$3.1M	$3.1M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.316%	$283K	$700K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4426	+0.122%	$364	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4421	−0.011%	$487K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0655%	1h	0.4424	+0.068%	$23K	$349K	25x
Lighter ONDO	+0.0888%	1h	0.4431	+0.229%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4424	+0.072%	$2K	—	20x	as long as short