Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h −0.057%

Price spread now: Orderly against 01 Exchange−0.119%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.119% cheaper against 01 Exchange than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4617	0.0264	pay 0.0033% / 1h	15m 02s	$380	$2K	10x
Short	Orderly PERP_ONDO_USDC	0.4611	0.0099	get 0.0050% / 4h	3h 15m	$25K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against 01 Exchange. 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 01 ExchangebpFee OrderlybpOrdersPrice spread, now −0.119%Rate

Funding earned: −$34.64
Price spread: −0.119% → 0.000%: −$11.91
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$59.55
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Orderly: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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	−0.0866%	1h	0.4612	−0.106%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4613	−0.080%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4610	−0.140%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.051%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0099%	4h	0.4611	−0.119%	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4617	0.000%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4615	−0.032%	$736K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4614	−0.055%	$69.2M	$221.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4611	−0.119%	$74.2M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4612	−0.097%	$17.7M	$78.2M	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	0.4593	−0.500%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4611	−0.109%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4610	−0.141%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4616	−0.011%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4615	−0.032%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4614	−0.054%	$26.1M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4612	−0.097%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.189%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	−0.282%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	−0.255%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	−0.271%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4617	+0.015%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4615	−0.032%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4611	−0.119%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4618	+0.032%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4610	−0.141%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4614	−0.052%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4612	−0.092%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4615	−0.032%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0112%	1h	0.4614	−0.063%	$232K	$999K	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.613%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSDlong	+0.0264%	1h	0.4617	long leg	$380	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4623	+0.141%	$300K	$820K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4613	−0.076%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0354%	1h	0.4617	+0.004%	$41.1M	$25.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0401%	1h	0.4613	−0.076%	$34K	$344K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4609	−0.157%	$551K	—	100x	as long as short
Lighter ONDO	+0.0656%	1h	0.4621	+0.095%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4615	−0.032%	$2K	—	20x	as long as short