Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,400 | 0 | 0.0000% / 8h | 7h 44m | $1.4M | $230K | 10x | Long Phemex | |
| SHORT | 1,426.3 | +0.0001 | 0.0000% / 1h | 44m 29s | $287K | $52K | 3x | Short Ondo Perps5% off |
Price gap+1.882%
Funding gap+0.0001% /8h
Funding is ≈ 0, so this is a price-spread trade: +$58 on $10k if the gap goes back to its 7d average.
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+$58spread +1.882% now, avg +1.304% → +0.579% if it goes back
Costs−$2372.374% of $10k · taker + slippage, in and out
Result−$180−1.80%+ 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+1.882%
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
2 ok · 4 to watch- Watch: Thin at this size68.7 / 109.6 bpAt $10k entering Ondo Perps costs 109.6 bp, fee and slippage, 1.6× Phemex’s.
- Note: Margin at max leverage$1,000 + $3,333Phemex 10x, Ondo Perps 3x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ8h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: +$0.02Long Phemex: 3 payments, $0.00; short Ondo Perps: 24 payments, +$0.02.
- OK: Entry gap works for you+1.882% vs +1.304%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$287K 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: KYCPhemex Yes · Ondo Perps NoKYC 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+1.882% → +1.304% (7d avg)+$57.87
Slippage, 4 orderslive order books−$220.39
Fee Phemex bp × 2 orders−$12.00
Fee Ondo Perps bp × 2 orders−$5.00
Net · 7 days · $10k−$179.72
Costs to cover2.374%Break-evennever at this rate
Slippage: Phemex: live order book, 1 min ago; Ondo Perps: live order book, 18 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex2.2968.7 bp−$69doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTOndo Perps4.91109.6 bp−$110268.6 bp−$2,686doesn’t fitdoesn’t fit
Closing costs about the same again.
| 10-24 19:20 | Kalshi | Other | JUST IN: UK partners with OpenAI, Anthropic, and Google to launch AI lab focused on preventing biological threats @Kalshi on X ↗ |
| 10-23 22:30 | Markets by Kinetiq | Other | OpenAI's pre-IPO price is down 10% this month while Anthropic's is down 7%. China's Moonshot says its Kimi K3.1 Pro matches Claude Opus 5.5 on Terminal-Bench for about a third of the cost. @Markets_xyz on X ↗ |
| 10-23 19:45 | Kalshi | Other | JUST IN: OpenAI to train frontier models without internet access @Kalshi on X ↗ |
| 10-23 12:45 | Kalshi | Other | JUST IN: Wall Street urges Anthropic and OpenAI to go public by the year's end @Kalshi on X ↗ |
| 10-22 20:22 | Kalshi | Other | JUST IN: OpenAI nears $30 billion funding round at $1.25 trillion valuation @Kalshi on X ↗ |
| 10-21 18:00 | Kalshi | Other | JUST IN: OpenAI to sell its frontier models, including GPT-6 Astra, and Codex through Google Cloud, per Reuters @Kalshi on X ↗ |
Kalshi
Markets by Kinetiq