Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0436%/8hnext payment −$0.54 per $10,000 · paid last 24h −0.153%

Price spread now: SoDEX against Coinbase International−0.249%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and SoDEX is 0.249% cheaper against Coinbase International than usual: you would sell low and buy high (−$25 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	Coinbase International ONDO-PERP-INTX	0.4416	0.0536	pay 0.0067% / 1h	4m 42s	$329K	$741K	50x
Short	SoDEX ONDO-USD	0.4405	0.0100	get 0.0013% / 1h	4m 42s	$458	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Coinbase International. 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 Coinbase InternationalbpFee SoDEXbpOrdersPrice spread, now −0.249%Rate

Funding earned: −$91.56
Price spread: −0.249% → 0.000%: −$24.91
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$134.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 28 min ago; SoDEX: 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 Coinbase International live order book, 28 min ago	10.20 bp	19.7 bp −$20	45.3 bp −$453	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0494%	1h	0.4404	−0.277%	$2.9M	$7.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4406	−0.226%	$6K	—	150x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4406	−0.233%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4405	−0.255%	$453K	$613K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4409	−0.165%	$752K	$1.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	−0.113%	$65.5M	$217.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4407	−0.204%	$69.3M	$112.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4408	−0.181%	$17.2M	$77.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4400	−0.360%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4407	−0.194%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4408	−0.181%	$11.6M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	−0.113%	$52.2M	$44.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4409	−0.159%	$13.4M	$9.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4411	−0.113%	$25.0M	$40.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4409	−0.159%	—	$751K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4408	−0.177%	$235K	$938K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4406	−0.216%	$765K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4409	−0.156%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4409	−0.153%	$410K	$826K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4411	−0.113%	$155K	$352K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	−0.208%	$71K	$994K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4406	−0.226%	$24K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4406	−0.226%	—	$1.4M	20x	as long as short
SoDEX ONDO-USDshort	+0.0100%	1h	0.4405	−0.249%	$458	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4419	+0.068%	$109K	$488K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4406	−0.226%	$4.9M	$5.8M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4410	−0.142%	$386K	$944K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4405	−0.240%	$35K	—	3x	as long as short
Phoenix ONDO	+0.0127%	1h	0.4408	−0.172%	$28K	$251K	10x	as long as short
Injective ONDO/USDC PERP	+0.0131%	1h	0.4416	0.000%	$994	$82K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4407	−0.204%	$20K	$344K	25x	as long as short
Hyperliquid ONDO	+0.0216%	1h	0.4414	−0.039%	$39.0M	$26.0M	10x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4411	−0.120%	$363	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4409	−0.159%	$3.2M	$3.0M	75x	as long as short
Lighter ONDO	+0.0472%	1h	0.4417	+0.027%	$1.2M	$1.7M	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0536%	1h	0.4416	long leg	$329K	$741K	50x
GMX ONDO/USD [ETH-USDC]	L +0.0608% / S −0.0203%	1h	0.4405	−0.239%	$547K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1135%	1h	0.4405	−0.239%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.1488%	1h	0.4406	−0.231%	$249K	$116K	5x	as long as short