Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.2798%/8h= +306.4% APRnext payment +$3.50 per $10,000 · paid last 24h —

Price spread now: dYdX against RISEx−0.050%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 dYdX

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. dYdX is 0.050% cheaper against RISEx than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 1 hour of funding at the current rate (+$84 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4343	0.0100	pay 0.0013% / 1h	18m 07s	—	—	5x
Short	dYdX ONDO-USD	0.4340	0.2898	get 0.0362% / 1h	18m 07s	$248K	$160K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $587.66
Price spread: −0.050% → 0.000%: −$4.99
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: $566.67
Costs to cover: 0.160%
Break-even: 0.3 days

Slippage unknown: RISEx: no order-book sample; dYdX: live order book, 34 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 dYdX live order book, 34 min ago	41.33 bp	52.9 bp −$53	183.6 bp −$1,836	269.4 bp −$26.9K	1091.4 bp −$545.7K

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 exchanges

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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4340	−0.060%	$22K	$384K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.065%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4339	−0.084%	$2.6M	$7.5M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.191%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.005%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4338	−0.106%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4345	+0.044%	$339K	$865K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4340	−0.060%	$776K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4338	−0.106%	$63.4M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4337	−0.129%	$68.5M	$119.0M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	−0.175%	$17.3M	$69.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4342	−0.016%	$72K	$77K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4343	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4337	−0.129%	$13.7M	$14.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	−0.129%	$45.0M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4339	−0.083%	$13.1M	$9.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4338	−0.106%	$25.2M	$35.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4338	−0.106%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	−0.106%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4345	+0.047%	$801K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4349	+0.139%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4346	+0.087%	$401K	$1.8M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4352	+0.217%	$134K	$320K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	+0.035%	$60K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4344	+0.033%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4339	−0.083%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.148%	$106K	$489K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	−0.129%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4338	−0.103%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4341	−0.039%	$36.5M	$27.1M	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	−0.101%	$364K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4340	−0.051%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4344	+0.042%	$358	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4353	+0.242%	$35K	$217K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4353	+0.240%	$214K	$633K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4343	+0.009%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4340	−0.053%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1165%	1h	0.4342	−0.024%	$2K	—	20x	as long as short
dYdX ONDO-USDshort	+0.2898%	1h	0.4340	−0.050%	$248K	$160K	5x