Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h —

Price spread now: Injective against RISEx+5.868%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 Injective

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

The price spread pays, funding is against you. Injective is 5.868% dearer against RISEx than usual: you sell high and buy low (spread +5.868% now, against zero (this spread has no 7-day history yet)): +$587 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4315	0.0100	pay 0.0013% / 1h	1m 56s	—	—	5x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	1m 56s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +5.868%Rate

Funding earned: −$14
Price spread: +5.868% → 0.000%: $586.82
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $566.8
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: RISEx: no order-book sample; Injective: 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 RISEx no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

RISEx and Injective: 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	−0.0162%	1h	0.4320	+0.111%	$2.5M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4318	+0.075%	$7K	—	150x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+5.868%	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4325	+0.225%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4318	+0.074%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4317	+0.045%	$356K	$867K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4322	+0.167%	$36.3M	$25.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	+0.213%	$62.3M	$233.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4322	+0.167%	$67.3M	$125.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.190%	$17.0M	$72.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4344	+0.681%	$72K	$83K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4315	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4321	+0.144%	$12.0M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4322	+0.167%	$42.6M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.121%	$12.2M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4321	+0.144%	$24.8M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4323	+0.190%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	+0.144%	$175K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	+0.439%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4333	+0.432%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	+0.410%	$404K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4330	+0.352%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	+0.072%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4322	+0.167%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4321	+0.144%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4329	+0.329%	$128K	$428K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4317	+0.053%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4320	+0.123%	$388K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4323	+0.184%	$37K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0125%	4h	0.4325	+0.243%	$775K	$2.6M	20x	as long as short
Phemex ONDOUSDT	+0.0150%	4h	0.4324	+0.213%	$4.2M	$8.0M	50x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4315	+0.007%	$355	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	+0.167%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4333	+0.422%	$218K	$765K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4340	+0.593%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4329	+0.329%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0193%	1h	0.4318	+0.077%	$480K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4320	+0.126%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1172%	1h	0.4317	+0.056%	$247K	$133K	5x	as long as short