Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h —

Price spread now: Lighter against RISEx+0.117%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.117% dearer against RISEx than usual: you sell high and buy low, +$12 on $10k if it 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	0.4311	0.0100	pay 0.0013% / 1h	34m 26s	—	—	5x
Short	Lighter ONDO	0.4316	0.0096	get 0.0012% / 1h	34m 26s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$0.84
Price spread: +0.117% → 0.000%: $11.73
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.89
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: RISEx: no order-book sample; Lighter: live order book, 2 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 Lighter live order book, 2 min ago	1.50 bp	10.0 bp −$10	32.3 bp −$323	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
Kraken Futures PF_ONDOUSD	−0.0241%	1h	0.4332	+0.494%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4309	−0.043%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0020%	1h	0.4313	+0.057%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.965%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0064%	1h	0.4313	+0.038%	$355	$2K	10x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4316	+0.117%	$1.1M	$2.4M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4314	+0.073%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4312	+0.029%	$36.0M	$26.0M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4314	+0.073%	$776K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4312	+0.026%	$62.0M	$235.6M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4308	−0.066%	$67.2M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4309	−0.043%	$17.2M	$73.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	+0.078%	$71K	$83K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4311	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4311	+0.004%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4311	+0.004%	$42.9M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4310	−0.020%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4310	−0.020%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4310	−0.020%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	+0.449%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	+0.208%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	+0.119%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4321	+0.226%	$400K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4316	+0.120%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4312	+0.029%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4309	−0.043%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	+0.491%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	+0.560%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.676%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	+0.491%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	+0.018%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4311	0.000%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4311	+0.004%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4310	−0.020%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.816%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	+0.045%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	+0.491%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4308	−0.062%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4311	+0.004%	$2K	—	20x	as long as short