Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1368%/8h= −149.8% APRnext payment −$1.71 per $10,000 · paid last 24h —

Price spread now: RISEx against dYdX+0.042%7-day average — · you sell dearer than you buy

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

Long on dYdX 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

The price spread pays, funding is against you. RISEx is 0.042% dearer against dYdX than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4338	0.1468	pay 0.0183% / 1h	48m 08s	$244K	$156K	5x
Short	RISEx ONDO/USDC	0.4340	0.0100	get 0.0013% / 1h	48m 08s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$287.28
Price spread: +0.042% → 0.000%: $4.16
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$299.12
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 56 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 dYdX live order book, 56 min ago	33.44 bp	38.4 bp −$38	38.4 bp −$384	136.2 bp −$13.6K	708.6 bp −$354.3K
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	−0.0175%	1h	0.4339	+0.018%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4342	+0.089%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	+0.040%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.299%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.168%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4339	+0.014%	$348K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.112%	$778K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4341	+0.066%	$62.8M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	+0.043%	$68.2M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	+0.112%	$17.3M	$72.2M	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	0.4319	−0.448%	$71K	$80K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4340	+0.042%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4340	+0.043%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4341	+0.066%	$44.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	+0.066%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	+0.066%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4341	+0.066%	—	$770K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4343	+0.101%	$178K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4322	−0.368%	$734K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.248%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4325	−0.312%	$398K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4329	−0.211%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4341	+0.059%	$62K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4339	+0.020%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4340	+0.043%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4342	+0.089%	$451	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.251%	$129K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4340	+0.043%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4340	+0.047%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4340	+0.051%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4343	+0.107%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4341	+0.078%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4338	−0.003%	$215K	$732K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	−0.137%	$35K	$221K	10x	as long as short
Hyperliquid ONDO	+0.0319%	1h	0.4345	+0.161%	$36.6M	$27.1M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4337	−0.026%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4339	+0.025%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4341	+0.070%	$2K	—	20x	as long as short
dYdX ONDO-USDlong	+0.1468%	1h	0.4338	long leg	$244K	$156K	5x