Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.053%

Price spread now: Phemex against 01 Exchange+0.005%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4313	0.0160	pay 0.0020% / 1h	35m 34s	$355	$2K	10x
Short	Phemex ONDOUSDT	0.4313	0.0100	get 0.0050% / 4h	1h 35m	$4.2M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$12.6
Price spread: +0.005% → 0.000%: $0.46
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$31.14
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 3 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	3.47 bp	17.2 bp −$17	23.8 bp −$238	doesn't fit	doesn't fit

01 Exchange: 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	−0.0147%	1h	0.4311	−0.032%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4310	−0.059%	$242K	$136K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4310	−0.066%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.917%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4315	+0.046%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4311	−0.030%	$346K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4314	+0.028%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4312	−0.019%	$62.5M	$236.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4311	−0.042%	$67.3M	$125.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4313	+0.005%	$17.1M	$72.7M	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	0.4318	+0.114%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4310	−0.063%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4310	−0.065%	$12.3M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4310	−0.065%	$42.6M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4312	−0.019%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4311	−0.042%	$24.6M	$39.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4312	−0.019%	—	$773K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4312	−0.016%	$171K	$997K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	−0.071%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.183%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	+0.081%	$406K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4321	+0.190%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4313	+0.009%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4310	−0.065%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4312	−0.019%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4312	−0.019%	$448	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4322	+0.213%	$128K	$405K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4313	+0.005%	$4.2M	$8.5M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	−0.007%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4310	−0.072%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4313	−0.007%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0134%	1h	0.4313	+0.009%	$36.2M	$27.1M	10x	as long as short
01 Exchange ONDOUSDlong	+0.0160%	1h	0.4313	long leg	$355	$2K	10x
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4312	−0.019%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.329%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	+0.281%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4320	+0.167%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4310	−0.060%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4310	−0.059%	$2K	—	20x	as long as short