Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.025%

Price spread now: Deribit against Gate+0.023%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.023%, 7d avg +0.045%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.022% cheaper against Gate than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.045%). If the spread goes back, that is −$2 on $10k: about 16 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.049% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4330	0.0100	pay 0.0050% / 4h	2h 01m	$13.8M	$14.7M	50x
Short	Deribit ONDO_USDC-PERPETUAL	0.4331	0.0212	get 0.0027% / 1h	1m 13s	$21K	$369K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $23.52
Price spread: +0.023% → +0.045%: −$2.2
Slippage, 4 orders: −$32.63
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.32
Costs to cover: 0.546%
Break-even: 16.9 days

Slippage from Gate: live order book, 1 min ago; Deribit: live order book, 50 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 Gate live order book, 1 min ago	2.31 bp	18.6 bp −$19	34.6 bp −$346	43.0 bp −$4,295	72.6 bp −$36.3K
Sell Deribit live order book, 50 min ago	4.62 bp	15.0 bp −$15	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4329	−0.032%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4329	−0.016%	$2.6M	$7.5M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.497%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4335	+0.104%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4328	−0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4331	+0.023%	$338K	$828K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4331	+0.023%	$767K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4330	0.000%	$63.2M	$223.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4327	−0.069%	$67.9M	$117.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4331	+0.023%	$17.3M	$67.6M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4344	+0.333%	$71K	$74K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4328	−0.046%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4330	long leg	$13.8M	$14.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.023%	$46.2M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4330	0.000%	$13.1M	$9.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4331	+0.023%	$25.2M	$33.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4330	0.000%	—	$784K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4331	+0.035%	$179K	$990K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4341	+0.265%	$801K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4345	+0.337%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4344	+0.323%	$405K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4348	+0.416%	$134K	$319K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	+0.039%	$60K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4331	+0.023%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4331	+0.023%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4338	+0.185%	$106K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4330	0.000%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4327	−0.067%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4329	−0.021%	$355K	$782K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4331	+0.030%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0119%	1h	0.4335	+0.127%	$36.5M	$26.7M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4330	+0.009%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0212%	1h	0.4331	+0.023%	$21K	$369K	25x
Phoenix ONDO	+0.0219%	1h	0.4334	+0.083%	$35K	$217K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4353	+0.531%	$214K	$620K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	+0.046%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0570% / S −0.0203%	1h	0.4328	−0.041%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4335	+0.113%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3323%	1h	0.4328	−0.046%	$248K	$159K	5x	as long as short