Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against Orderly−0.098%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.098% cheaper against Orderly than usual: you would sell low and buy high (−$10 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	Orderly PERP_COIN_USDC_mythos	194.49	0.0100	pay 0.0100% / 8h	7h 24m	$562	$4K	10x
Short	Ondo Perps COIN-USD.P	194.30	0.0050	get 0.0006% / 1h	24m 45s	$422K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Orderly. 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 OrderlybpFee Ondo PerpsbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$10.42
Price spread: −0.098% → 0.000%: −$9.77
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$31.19
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Ondo Perps: 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 Orderly no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Orderly and Ondo Perps: 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.

COIN on 26 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
Injective COIN/USDC PERP	−0.0440%	1h	193.41	−0.555%	$92K	$129K	30x	as long as short
Vest COIN-USD-PERP	−0.0069%	1h	193.91	−0.298%	—	$319K	25x	as long as short
Bitget COINUSDT	−0.0048%	8h	194.63	+0.072%	$6.3M	$10.2M	20x	as long as short
Aster COINUSDT	0.0000%	8h	194.47	−0.009%	$339K	$879K	20x	as long as short
Bybit COINUSDT	0.0000%	8h	194.52	+0.015%	$4.6M	$6.0M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	194.58	+0.046%	$3.0M	$4.6M	20x	as long as short
Gate COIN_USDT	0.0000%	8h	194.50	+0.005%	$1.2M	$6.8M	50x	as long as short
Variational Omni COIN	0.0000%	8h	194.31	−0.094%	$655K	$981K	—	as long as short
GRVT COIN_USDT_Perp	0.0000%	8h	194.57	+0.042%	$11K	$3.0M	10x	as long as short
Extended COIN_24_5-USD	+0.0016%	1h	194.47	−0.008%	$103K	$860K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance COINUSDT	+0.0017%	8h	194.54	+0.025%	$14.7M	$81.5M	20x	as long as short
Lighter COIN	+0.0032%	1h	194.46	−0.018%	$358K	$2.0M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	194.46	−0.015%	$472K	$1.3M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	194.65	+0.082%	$17K	$49K	5x	as long as short
QFEX COIN-USD	+0.0047%	1h	194.49	0.000%	$1.3M	$2.8M	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	194.47	−0.010%	$15.3M	$11.8M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	194.36	−0.067%	$134K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	194.38	−0.057%	$73	$3K	10x	as long as short
Ondo Perps COIN-USD.Pshort	+0.0050%	1h	194.30	−0.098%	$422K	$2.4M	10x
BloFin COIN-USDT	+0.0070%	8h	194.48	−0.005%	$187K	$481K	20x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	194.50	+0.005%	$979K	$195K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	194.42	−0.036%	$87K	$285K	50x	as long as short
Orderly PERP_COIN_USDC_mythoslong	+0.0100%	8h	194.49	long leg	$562	$4K	10x
Aevo COIN-PERP	+0.0104%	1h	194.49	0.000%	$115	—	10x	as long as short
Phoenix COIN	+0.0164%	1h	194.74	+0.129%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0996%	4h	194.47	−0.010%	$50K	$294K	10x	as long as short