Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0572%/8h= −62.6% APRnext payment −$0.71 per $10,000 · paid last 24h —

Price spread now: RISEx against Deribit−0.239%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—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 −$17 a day on $10k at the current rate, and RISEx is 0.239% cheaper against Deribit than usual: you would sell low and buy high (−$24 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	Deribit ONDO_USDC-PERPETUAL	0.4341	0.0672	pay 0.0084% / 1h	51m 25s	$18K	$362K	25x
Short	RISEx ONDO/USDC	0.4331	0.0100	get 0.0013% / 1h	51m 25s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.239%Rate

Funding earned: −$120.12
Price spread: −0.239% → 0.000%: −$23.89
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$157.01
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 57 min ago; RISEx: 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, 57 min ago	5.76 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell RISEx no order-book sample	—	—	—	—	—

RISEx: 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	−0.0146%	1h	0.4339	−0.049%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4331	−0.224%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4337	−0.090%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.229%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4334	−0.170%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.161%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4339	−0.036%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4339	−0.051%	$63.0M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4336	−0.115%	$67.6M	$126.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4340	−0.023%	$17.2M	$73.8M	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	0.4330	−0.258%	$71K	$82K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4331	−0.239%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4336	−0.115%	$12.4M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4336	−0.115%	$43.0M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.138%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4338	−0.069%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4336	−0.115%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	−0.182%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	−0.282%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.317%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	−0.253%	$403K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.323%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4338	−0.071%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4338	−0.069%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4340	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4339	−0.046%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	−0.023%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	−0.207%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4331	−0.237%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	−0.062%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	0.000%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4334	−0.152%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4335	−0.138%	$215K	$725K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4333	−0.180%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4329	−0.276%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0446%	1h	0.4340	−0.021%	$36.6M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4337	−0.085%	$487K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0672%	1h	0.4341	long leg	$18K	$362K	25x
Reya ONDORUSDPERP	+0.1157%	1h	0.4337	−0.092%	$2K	—	20x	as long as short