Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Gate against Extended−0.025%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.025%, 7d avg +0.013%

Together, before fees−0.035%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.038% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4542	0.0104	pay 0.0013% / 1h	24m 53s	$407K	$844K	25x
Short	Gate ONDO_USDT	0.4541	0.0100	get 0.0050% / 4h	24m 53s	$11.9M	$18.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.025%Rate

Funding earned: −$0.84
Price spread: −0.025% → +0.013%: −$3.79
Slippage, 4 orders: −$24.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.77
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from Extended: live order book, 53 min ago; Gate: live order book, 4 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 Extended live order book, 53 min ago	2.17 bp	6.6 bp −$7	15.1 bp −$151	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.10 bp	15.2 bp −$15	33.8 bp −$338	44.2 bp −$4,424	73.7 bp −$36.8K

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	−0.0802%	1h	0.4547	+0.107%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.570%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4541	−0.035%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4542	−0.003%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4537	−0.113%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4549	+0.145%	$722K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4544	+0.040%	$68.0M	$227.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4543	+0.019%	$73.6M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4541	−0.025%	$17.6M	$80.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4549	+0.145%	$74K	$89K	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	0.4536	−0.129%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4541	−0.025%	$11.9M	$18.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4543	+0.019%	$48.7M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4549	+0.151%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4544	+0.041%	$25.7M	$41.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4543	+0.019%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4551	+0.200%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	+0.085%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4545	+0.064%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.204%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4546	+0.085%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4541	−0.014%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4540	−0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4547	+0.107%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4549	+0.151%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4548	+0.129%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4540	−0.039%	$7K	$9	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4542	long leg	$407K	$844K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4547	+0.118%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4545	+0.056%	$40.2M	$26.4M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4544	+0.041%	$35K	$437K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	+0.134%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4539	−0.069%	$296K	$842K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4540	−0.049%	$374	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4547	+0.107%	$3.3M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4541	−0.025%	$542K	—	100x	as long as short
Lighter ONDO	+0.0760%	1h	0.4558	+0.345%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4540	−0.049%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3995%	1h	0.4539	−0.069%	$257K	$132K	5x	as long as short