Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.139%

Price spread now: Lighter against SunX+0.150%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1531.529% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.150%, 7d avg +0.113%

Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · farm board+$11 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: Lighter is 0.038% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4319	0.0100	pay 0.0050% / 4h	1h 37m	—	$1.4M	20x
Short	Lighter ONDO	0.4325	0.0096	get 0.0012% / 1h	37m 32s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.150%Rate

Funding earned: −$0.84
Price spread: +0.150% → +0.113%: $3.75
Slippage, 4 orders: −$144.89
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$149.98
Costs to cover: 1.529%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Lighter: 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, 7 min ago	47.33 bp	68.6 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	5.77 bp	9.0 bp −$9	22.8 bp −$228	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	−0.0146%	1h	0.4319	+0.009%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4318	−0.020%	$242K	$136K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4319	−0.001%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.765%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4325	+0.150%	$1.1M	$2.4M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4321	+0.046%	$347K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4323	+0.093%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4322	+0.074%	$62.7M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	+0.046%	$67.3M	$125.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.093%	$17.2M	$73.1M	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	0.4319	−0.007%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4321	+0.054%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4320	+0.023%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	+0.093%	$43.0M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.023%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	0.000%	$24.7M	$39.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4322	+0.069%	—	$23.4M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	+0.044%	$171K	$998K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	+0.110%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.045%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4325	+0.139%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4330	+0.255%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	+0.088%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	0.000%	$23K	$6K	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4319	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4320	+0.023%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.255%	$128K	$424K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4321	+0.046%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4322	+0.067%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	+0.045%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	+0.068%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0159%	1h	0.4323	+0.088%	$36.2M	$27.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4323	+0.095%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	+0.069%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4321	+0.046%	$214K	$725K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	+0.137%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4323	+0.093%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4322	+0.060%	$486K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4320	+0.018%	$2K	—	20x	as long as short