Funding arb · Price arb / RWA

COIN

RWAAll COIN markets →

LONGKraken Futures▾Injective −0.0440%Aster 0.0000%Extended 0.0000%Binance 0.0000%Bybit 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Phoenix 0.0000%SunX 0.0000%HTX 0.0000%Lighter +0.0032%Lighter RH +0.0032%Arcus +0.0038%Vest Markets +0.0046%Popdex +0.0048%tradeXYZ +0.0050%Polymarket Perps +0.0050%SoDEX +0.0057%Avantis +0.0068%AZverse +0.0074%BingX +0.0074%OKX +0.0076%Orderly +0.0098%ApeX Omni +0.0100%TxFlow +0.0100%Aevo +0.0104%BloFin +0.0120%KuCoin +0.0399%edgeX +0.0731%Kraken Futures +0.1346%

⇄⇅

SHORTOndo Perps▾edgeX +0.0731%KuCoin +0.0399%BloFin +0.0120%Aevo +0.0104%ApeX Omni +0.0100%TxFlow +0.0100%Orderly +0.0098%OKX +0.0076%BingX +0.0074%AZverse +0.0074%SoDEX +0.0057%Ondo Perps +0.0050%tradeXYZ +0.0050%Polymarket Perps +0.0050%Popdex +0.0048%Vest Markets +0.0046%Arcus +0.0038%Lighter +0.0032%Lighter RH +0.0032%Avantis −0.0032%Aster 0.0000%Extended 0.0000%Binance 0.0000%Bybit 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Phoenix 0.0000%SunX 0.0000%HTX 0.0000%Injective −0.0440%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_COINXUSD	146.04	+0.1346	pay 0.0168% / 1h	7m 45s	$663K	$1.0M	20x	Long Kraken Futures
SHORT	Ondo PerpsCOIN-USD.P2	145.71	+0.0050	get 0.0006% / 1h	7m 45s	$546K	$3.8M	10x	Short Ondo Perps5% off

Price gap−0.228%

Funding gap−0.1296% /8h

Both sides work against this direction now: funding costs $39 a day on $10k and the gap is 0.096% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.692% in total, about −0.0330%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.228%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Kraken FuturesOndo Perps

COIN on 35 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

• !
  Watch: Thin at this size234.8 / 6.7 bp

  At $10k entering Kraken Futures costs 234.8 bp, fee and slippage, 34.8× Ondo Perps’s.
• i
  Note: Margin at max leverage$500 + $1,000

  Kraken Futures 20x, Ondo Perps 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Kraken Futures · 1h−$40.38

  Short Ondo Perps · 1h+$1.51

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$38.87Long Kraken Futures: 24 payments, −$40.38; short Ondo Perps: 24 payments, +$1.51.
• !
  Watch: Gap narrower than usual−0.228% vs −0.132%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$546K vs $663K OI

  Ondo Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legOndo Perps points

  Volume here counts toward the points program.
• !
  Watch: KYCKraken Futures Yes · Ondo Perps No

  Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0330%/8h × 21 periods−$69.20

Price spread−0.228% → −0.132% (7d avg)−$9.57

Slippage, 4 orderslive order books−$248.51

Fee Kraken Futures bp × 2 orders−$10.00

Fee Ondo Perps bp × 2 orders−$5.00

Net · 7 days · $10k−$342.29

Costs to cover2.635%Break-evennever at this rate

Slippage: Kraken Futures: live order book, 4 min ago; Ondo Perps: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGKraken Futures4.80234.8 bp−$23582615.5 bp−$826.2Kdoesn’t fitdoesn’t fit

SELL · SHORTOndo Perps2.746.7 bp−$723.5 bp−$235doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

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COIN news

posts that mention COIN or Coinbase Global, from every exchangeSearch all news →

10-29 20:33	Variational Omni	Other	$COIN Earnings Call @variational_io on X ↗
10-29 14:50	Phoenix	Other	Five Phoenix-listed equities report after the close today. $SNDK 4:30pm ET. $AMZN, $INTC, $MSTR and $COIN 5:00pm ET. Trade them 24/7 on Phoenix. @PhoenixTrade on X ↗
10-29 10:00	MEXC	Other	Three earnings. Which one gets the green candle? 👀 ☁️ $AMZN: AWS growth vs. spending 💾 $SNDK: NAND pricing power 🪙 $COIN: Trading revenue recovery All report after the U.S. close today. Your pick? 👇 #MEXC @MEXC on X ↗
10-27 15:08	tradeXYZ	Other	Earnings this week on TradeXYZ: Tue 10/27: Robinhood (HOOD), SK hynix (SKHX, SKHY) Wed 10/28: Microsoft (MSFT), Alphabet (GOOGL), ServiceNow (NOW), GE Vernova (GEV), United Microelectronic Corp (UMC), eBay (EBAY) Thu 10/29: Eli Lilly (LLY), Samsung (SAMSUNG), Amazon (AMZN), Intel (INTC), Sandisk (SNDK), Coinbase (COIN), Strategy (MSTR), Reddit (RDDT), Rivian (RIVN) Fri 10/30: Chevron (CVX), Kioxia (KIOXIA) @tradexyz on X ↗
10-27 13:21	Ondo Perps	Other	Eligible perps markets for the Liquidity Pool: ▸ Stocks: NVDA, TSLA, META, AMD, INTC, MU, SNDK, COIN, MSTR, CRCL, SPCX ▸ Indices: US 500, US 100 ▸ ETFs: DRAM, SOXL ▸ Commodities: Gold, Silver, WTI ▸ Crypto: BTC, ETH Rewards are paid in USDC directly to your trading account within 48 hours of each week’s close. Trade Now → @OndoPerps on X ↗
10-26 22:17	Polymarket Perps	Other	One of the biggest earnings weeks of the season is here. Tue Oct 27 • SKHY • SKHYNIX • HOOD Wed Oct 28 • SAMSUNG • MSFT • GOOGL Thu Oct 29 • AMZN • INTC • SNDK • MSTR • STRC • COIN Trade every report on Polymarket Perps👇 @Poly_Perps on X ↗