Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Gate−0.169%7-day average +0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)+0.388%+$39 · spread now −0.169%, 7d avg +0.104%

Together, before fees+0.434%+$43 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: Polymarket Perps is 0.273% cheaper against Gate than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4613	0.0100	pay 0.0050% / 4h	3h 31m	$12.1M	$16.7M	50x
Short	Polymarket Perps ONDO-USD	0.4605	0.0100	get 0.0013% / 1h	31m 47s	$74K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.169%Rate

Funding earned: $0
Price spread: −0.169% → +0.104%: −$27.33
Slippage, 4 orders: −$30.37
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$80.71
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Polymarket Perps: live order book, 1 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, 2 min ago	1.09 bp	20.0 bp −$20	45.0 bp −$450	53.7 bp −$5,373	84.0 bp −$42.0K
Sell Polymarket Perps live order book, 1 min ago	3.25 bp	7.2 bp −$7	7.4 bp −$74	doesn't fit	doesn't fit

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	−0.0866%	1h	0.4610	−0.060%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4616	+0.064%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4607	−0.127%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.976%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4609	−0.087%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4599	−0.298%	$431K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4614	+0.022%	$728K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4611	−0.046%	$69.1M	$224.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4611	−0.043%	$74.6M	$120.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4609	−0.087%	$17.7M	$79.5M	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	0.4629	+0.351%	$76K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4595	−0.380%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4613	long leg	$12.1M	$16.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4615	+0.043%	$50.1M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4619	+0.130%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4615	+0.043%	$26.2M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4615	+0.043%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4618	+0.113%	$232K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	+0.039%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4629	+0.350%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4631	+0.392%	$429K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.152%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4605	−0.169%	$74K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4611	−0.043%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4612	−0.022%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4604	−0.195%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4611	−0.043%	$4.6M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4602	−0.230%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4614	+0.023%	$416K	$839K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4610	−0.074%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4610	−0.065%	$34K	$363K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4636	+0.496%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4600	−0.277%	$379	$2K	10x	as long as short
Hyperliquid ONDO	+0.0275%	1h	0.4621	+0.167%	$41.1M	$25.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.390%	$300K	$830K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4608	−0.108%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4606	−0.148%	$549K	—	100x	as long as short
Lighter ONDO	+0.0592%	1h	0.4625	+0.249%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4603	−0.222%	$2K	—	20x	as long as short