Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against SunX−0.001%46s7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1711.706% of the position

Long on SunX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.001%, 7d avg −0.023%

Together, before fees+0.059%+ Points / potential airdropGRVT: Active · farm board+$6 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: GRVT is 0.022% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4523	0.0100	pay 0.0050% / 4h	2h 37m	—	$1.4M	20x
Short	GRVT ONDO_USDT_Perp	0.4523	0.0100	get 0.0050% / 4h	2h 37m	$417K	$936K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → −0.023%: $2.16
Slippage, 4 orders: −$153.59
Fee SunX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$168.44
Costs to cover: 1.706%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; GRVT: live order book, 50 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, 7 min ago	47.62 bp	70.9 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 50 min ago	3.33 bp	13.1 bp −$13	30.4 bp −$304	doesn't fit	doesn't fit

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	−0.1122%	1h	0.4532	+0.189%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4532	+0.199%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4529	+0.124%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.049%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.366%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4530	+0.155%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4534	+0.249%	$426K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4532	+0.190%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4535	+0.266%	$66.7M	$219.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4534	+0.243%	$73.6M	$117.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4533	+0.221%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4513	−0.217%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4533	+0.219%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4529	+0.133%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4531	+0.177%	$47.8M	$45.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4529	+0.133%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4535	+0.265%	$25.6M	$41.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4530	+0.155%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4533	+0.230%	$196K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.077%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	−0.110%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perpshort	+0.0100%	4h	0.4523	−0.001%	$417K	$936K	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4521	−0.044%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.301%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4523	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4530	+0.155%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	+0.111%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4529	+0.133%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4532	+0.194%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4532	+0.200%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4533	+0.216%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0142%	1h	0.4540	+0.382%	$40.9M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	+0.243%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4515	−0.177%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4539	+0.360%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0496%	1h	0.4538	+0.334%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4528	+0.114%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4536	+0.284%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0076%	1h	0.4530	+0.152%	$256K	$123K	5x	as long as short