Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.008%

Price spread now: Paradex against Deribit+0.122%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Paradex is 0.122% dearer against Deribit than usual: you sell high and buy low (spread +0.122% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4382	0.0207	pay 0.0026% / 1h	4m 12s	$23K	$349K	25x
Short	Paradex ONDO-USD-PERP	0.4387	0.0103	get 0.0103% / 8h	5h 04m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$21.78
Price spread: +0.122% → 0.000%: $12.22
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.56
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Deribit: live order book, 59 min ago; Paradex: 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 Deribit live order book, 59 min ago	6.80 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
dYdX ONDO-USD	+0.0001%	1h	0.4389	+0.163%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4380	−0.046%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.245%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0062%	1h	0.4381	−0.027%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4380	−0.046%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4380	−0.057%	$369K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4384	+0.054%	$63.7M	$226.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4382	0.000%	$69.5M	$123.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4385	+0.068%	$17.0M	$71.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4383	+0.030%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4387	+0.108%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4382	0.000%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4383	+0.023%	$47.4M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4381	−0.023%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4382	0.000%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4383	+0.023%	—	$763K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	+0.083%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4393	+0.253%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.456%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4400	+0.411%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4385	+0.059%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4383	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4383	+0.023%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4390	+0.183%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4386	+0.091%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0103%	8h	0.4387	+0.122%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4380	−0.042%	$396K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4383	+0.026%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0125%	1h	0.4385	+0.075%	$38.0M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0163%	1h	0.4383	+0.023%	$188K	$981K	15x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4384	+0.046%	$732K	$2.3M	20x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0207%	1h	0.4382	long leg	$23K	$349K	25x
Phoenix ONDO	+0.0272%	1h	0.4394	+0.283%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4392	+0.228%	$3.1M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4386	+0.087%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4386	+0.091%	$279K	$714K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4380	−0.051%	$483K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4392	+0.219%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4381	−0.019%	$2K	—	20x	as long as short