Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Orderly against Extended−0.057%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.057% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4321	0.0104	pay 0.0013% / 1h	13m 44s	$360K	$812K	25x
Short	Orderly PERP_ONDO_USDC	0.4319	0.0100	get 0.0050% / 4h	13m 44s	$23K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.057%Rate

Funding earned: −$0.84
Price spread: −0.057% → 0.000%: −$5.7
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$17.54
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 24 min ago; Orderly: 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 Extended live order book, 24 min ago	3.47 bp	6.0 bp −$6	14.9 bp −$149	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0176%	1h	0.4317	−0.100%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4318	−0.076%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.705%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4323	+0.024%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4318	−0.074%	$345K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4321	−0.011%	$756K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4319	−0.057%	$62.9M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4319	−0.057%	$68.0M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4319	−0.057%	$17.3M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4324	+0.047%	$71K	$80K	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	0.4317	−0.105%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4320	−0.034%	$13.0M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4321	−0.011%	$44.0M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4321	−0.011%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	−0.057%	$24.6M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4321	−0.011%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4322	+0.022%	$176K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4314	−0.177%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4315	−0.142%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4314	−0.173%	$400K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	−0.265%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4320	−0.029%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4319	−0.057%	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4318	−0.080%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4321	−0.011%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4327	+0.128%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	−0.034%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4319	−0.055%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4321	long leg	$360K	$812K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4323	+0.024%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	+0.012%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4319	−0.048%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4320	−0.034%	$213K	$732K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4317	−0.094%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4315	−0.150%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0378%	1h	0.4323	+0.029%	$36.5M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4311	−0.241%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4312	−0.223%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1706%	1h	0.4318	−0.092%	$242K	$156K	5x	as long as short