Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.3044%/8h= −333.4% APRpaid last 24h −0.820%

Price spread now: HTX against dYdX+0.216%7-day average +0.164% · you sell dearer than you buy

Net, funding: paid 7d − costs−$441as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1211.209% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.196%−$320 on $10k

Price spread, last 4 days (all we have)−0.522%−$52 · spread now +0.216%, 7d avg +0.164%

Together, before fees−3.718%−$372 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.052% dearer against dYdX than usual: you sell high and buy low (spread +0.216% now, against its 7-day average of +0.164%): +$5 on $10k if it goes back. Holding the pair costs −$91 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−3.196% in total) that is about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4361	0.3144	pay 0.0393% / 1h	8m 28s	$250K	$76K	5x
Short	HTX ONDO-USDT	0.4370	0.0100	get 0.0050% / 4h	3h 08m	$108K	$330K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.216%Rate

Funding earned: −$639.3
Price spread: +0.216% → +0.164%: $5.16
Slippage, 4 orders: −$98.93
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$755.07
Costs to cover: 1.209%
Break-even: never at this rate

Slippage from dYdX: live order book, 54 min ago; HTX: live order book, 53 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 dYdX live order book, 54 min ago	23.99 bp	29.6 bp −$30	100.3 bp −$1,003	177.3 bp −$17.7K	750.2 bp −$375.1K
Sell HTX live order book, 53 min ago	12.58 bp	24.2 bp −$24	doesn't fit	doesn't fit	doesn't fit

ONDO on 39 exchanges

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
Coinbase International ONDO-PERP-INTX	−0.0064%	1h	0.4374	+0.307%	$221K	$343K	50x	as long as short
Bybit ONDOUSDT	−0.0048%	4h	0.4355	−0.128%	$67.7M	$93.1M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4360	−0.014%	$27K	$197K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0010%	1h	0.4358	−0.053%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4353	−0.174%	$846	$167K	5.5x	as long as short
Variational Omni ONDO	+0.0043%	4h	0.4353	−0.177%	$828K	$1.6M	—	as long as short
01 Exchange ONDOUSD	+0.0072%	1h	0.4361	+0.007%	$2K	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4365	+0.108%	$788K	$1.5M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4357	−0.083%	$23K	$3K	10x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4360	−0.008%	$8K	$790	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ONDO-PERP	+0.0100%	1h	0.4358	−0.065%	$323K	$553K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4359	−0.028%	$37.4M	$22.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4360	−0.014%	$718K	$2.4M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4358	−0.056%	$62.9M	$179.7M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4355	−0.128%	$16.3M	$58.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4356	−0.101%	$80K	$52K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4360	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4357	−0.083%	$17.4M	$10.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4357	−0.083%	$49.1M	$33.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4358	−0.060%	$13.4M	$6.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4360	−0.014%	$25.8M	$24.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4356	−0.105%	—	$766K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4361	+0.002%	$134K	$409K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4360	−0.023%	$6K	$369K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4358	−0.060%	$413K	$2.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4359	−0.037%	$75K	$246K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4359	−0.041%	$58K	$858K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4359	−0.037%	—	$987K	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4359	−0.037%	$5K	$21K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4370	+0.216%	$108K	$330K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4358	−0.060%	$3.8M	$8.0M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4359	−0.026%	$343K	$244K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4361	+0.007%	$38K	$13K	3x	as long as short
Kraken Futures PF_ONDOUSD	+0.0156%	1h	0.4363	+0.050%	$2.6M	$4.3M	50x	as long as short
Phoenix ONDO	+0.0165%	1h	0.4363	+0.060%	$33K	$123K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	−0.083%	$3.1M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0407% / S −0.0203%	1h	0.4358	−0.058%	$300K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1189%	1h	0.4358	−0.052%	$2K	—	20x	as long as short
dYdX ONDO-USDlong	+0.3144%	1h	0.4361	long leg	$250K	$76K	5x