Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,426.2 | +0.0001 | 0.0000% / 1h | 32m 23s | $286K | $59K | 3x | Long Ondo Perps5% off | |
| SHORT | 1,400 | 0 | 0.0000% / 8h | 6h 32m | $1.4M | $214K | 10x | Short Phemex |
Price gap−1.838%
Funding gap−0.0001% /8h
Funding is ≈ 0 and the gap is 0.549% under its 7d average: the price leg works against you, −$55 on $10k if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding$0−0.0001% /8h now · paid +0.002% over the last 7D
Price−$55spread −1.838% now, avg −1.289% → −0.549% if it goes back
Costs−$2302.297% of $10k · taker + slippage, in and out
Result−$284−2.84%+ Points / potential airdropOndo Perps: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−1.838%
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
/8hOPENAI on 26 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size15.1 / 45.1 bpAt $10k entering Phemex costs 45.1 bp, fee and slippage, 3.0× Ondo Perps’s.
- Note: Margin at max leverage$3,333 + $1,000Ondo Perps 3x, Phemex 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$0.02Long Ondo Perps: 24 payments, −$0.02; short Phemex: 3 payments, $0.00.
- Watch: Gap narrower than usual−1.838% vs −1.289%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$286K vs $1.4M OIOndo Perps sets your exit cost. Check its book before closing.
- OK: Points on a legOndo Perps pointsVolume here counts toward the points program.
- Watch: KYCOndo Perps No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0001%/8h × 21 periods+$0.20
Price spread−1.838% → −1.289% (7d avg)−$54.85
Slippage, 4 orderslive order books−$212.73
Fee Ondo Perps bp × 2 orders−$5.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$284.38
Costs to cover2.297%Break-even9911.0 days
Slippage: Ondo Perps: live order book, 25 min ago; Phemex: live order book, 3 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGOndo Perps10.5215.1 bp−$1596.1 bp−$961doesn’t fitdoesn’t fit
SELL · SHORTPhemex3.3645.1 bp−$45doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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