Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.006%

Price spread now: Gate against Deribit+0.109%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.109%, 7d avg −0.055%

Together, before fees−0.150%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.163% dearer against Deribit than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of −0.055%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.5 days. At the pace of the last 7 days (−0.027% in total) that is about 41 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4608	0.0184	pay 0.0023% / 1h	32m 56s	$34K	$363K	25x
Short	Gate ONDO_USDT	0.4613	0.0100	get 0.0050% / 4h	3h 32m	$12.1M	$16.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now +0.109%Rate

Funding earned: −$17.64
Price spread: +0.109% → −0.055%: $16.31
Slippage, 4 orders: −$39.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$63.11
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from Deribit: live order book, 41 min ago; Gate: live order book, 1 min ago.

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 Deribit live order book, 41 min ago	6.57 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.09 bp	17.2 bp −$17	33.6 bp −$336	40.8 bp −$4,078	69.9 bp −$35.0K

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	−0.0867%	1h	0.4607	−0.013%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4620	+0.260%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.148%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.868%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4606	−0.043%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4611	+0.060%	$432K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4615	+0.148%	$729K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4614	+0.121%	$69.1M	$224.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4612	+0.087%	$74.7M	$120.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4612	+0.087%	$17.7M	$79.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4629	+0.460%	$76K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4616	+0.165%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4613	+0.109%	$12.1M	$16.6M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4614	+0.130%	$50.1M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4611	+0.065%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4611	+0.065%	$26.1M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4613	+0.109%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4609	+0.015%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	+0.147%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4629	+0.459%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4631	+0.501%	$429K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.043%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4611	+0.074%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4609	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4608	0.000%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	+0.109%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4610	+0.043%	$4.6M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4617	+0.192%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4615	+0.153%	$418K	$842K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4611	+0.054%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0184%	1h	0.4608	long leg	$34K	$363K	25x
Phoenix ONDO	+0.0244%	1h	0.4636	+0.605%	$38K	$248K	10x	as long as short
Hyperliquid ONDO	+0.0255%	1h	0.4615	+0.143%	$41.1M	$25.5M	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4621	+0.289%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.499%	$300K	$830K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4608	0.000%	$3.2M	$2.9M	75x	as long as short
Lighter ONDO	+0.0584%	1h	0.4616	+0.180%	$1.5M	$2.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4601	−0.151%	$550K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4609	+0.022%	$2K	—	20x	as long as short