Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against SunX−0.273%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1641.645% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.294%+$29 · spread now −0.273%, 7d avg −0.027%

Together, before fees+0.235%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.246% cheaper against SunX than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4390	0.0100	pay 0.0050% / 4h	2h 09m	—	$1.4M	20x
Short	Gate ONDO_USDT	0.4378	0.0100	get 0.0050% / 4h	2h 09m	$11.5M	$16.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.273%Rate

Funding earned: $0
Price spread: −0.273% → −0.027%: −$24.59
Slippage, 4 orders: −$141.46
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$189.05
Costs to cover: 1.645%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Gate: live order book, 4 min ago.

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 SunX live order book, 5 min ago	46.49 bp	65.7 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.27 bp	15.9 bp −$16	26.4 bp −$264	44.0 bp −$4,396	75.6 bp −$37.8K

ONDO on 38 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	−0.0364%	1h	0.4384	−0.148%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4392	+0.048%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4387	−0.067%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.055%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4388	−0.046%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	+0.057%	$380K	$859K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4386	−0.081%	$675K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4381	−0.205%	$63.6M	$231.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4381	−0.205%	$69.4M	$124.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4381	−0.205%	$16.9M	$74.4M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4399	+0.207%	$72K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4391	+0.019%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4378	−0.273%	$11.5M	$16.5M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4380	−0.228%	$45.9M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4382	−0.182%	$13.0M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4380	−0.228%	$24.9M	$40.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4381	−0.205%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4398	+0.176%	$762K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4403	+0.300%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4407	+0.384%	$406K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	+0.342%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	+0.075%	$90K	$1.4M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4390	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4386	−0.091%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4394	+0.091%	$129K	$505K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4394	+0.087%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4380	−0.230%	$396K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4388	−0.051%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0164%	1h	0.4385	−0.103%	$195K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0239%	1h	0.4382	−0.185%	$38.5M	$24.0M	10x	as long as short
Phemex ONDOUSDT	+0.0286%	4h	0.4385	−0.114%	$4.2M	$7.5M	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.729%	$284K	$712K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	+0.442%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4395	+0.107%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	0.000%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4387	−0.067%	$484K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4388	−0.050%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4391	+0.027%	$2K	—	20x	as long as short