Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.015%

Price spread now: Deribit against HTX−0.138%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1001.001% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.138%, 7d avg −0.129%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4360	0.0100	pay 0.0050% / 4h	3h 23m	$129K	$432K	50x
Short	Deribit ONDO_USDC-PERPETUAL	0.4354	0.0210	get 0.0026% / 1h	23m 10s	$18K	$362K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.138%Rate

Funding earned: $23.1
Price spread: −0.138% → −0.129%: −$0.88
Slippage, 4 orders: −$81.06
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$77.84
Costs to cover: 1.001%
Break-even: 30.6 days

Slippage from HTX: live order book, 30 min ago; Deribit: live order book, 30 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 HTX live order book, 30 min ago	2.26 bp	65.2 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 30 min ago	6.80 bp	10.3 bp −$10	doesn't fit	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	−0.0161%	1h	0.4351	−0.202%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	−0.187%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.771%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4358	−0.048%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4353	−0.161%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4353	−0.161%	$359K	$841K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4353	−0.159%	$62.9M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4350	−0.229%	$67.7M	$124.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4351	−0.206%	$17.0M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	+0.076%	$72K	$83K	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	0.4352	−0.179%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4351	−0.206%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4352	−0.183%	$43.1M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4353	−0.161%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4352	−0.183%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4352	−0.183%	—	$759K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	−0.147%	$183K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	+0.085%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	+0.203%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4364	+0.082%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4368	+0.183%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4353	−0.165%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4354	−0.138%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4354	−0.138%	$453	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4360	long leg	$129K	$432K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4356	−0.092%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4353	−0.170%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4352	−0.177%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	−0.111%	$38K	$13K	3x	as long as short
dYdX ONDO-USD	+0.0116%	1h	0.4352	−0.173%	$246K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4354	−0.140%	$358	$2K	10x	as long as short
Aster ONDOUSDT	+0.0166%	4h	0.4353	−0.153%	$786K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0199%	1h	0.4355	−0.112%	$37.4M	$24.4M	10x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0210%	1h	0.4354	−0.138%	$18K	$362K	25x
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	+0.183%	$248K	$725K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4368	+0.177%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	−0.069%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4352	−0.194%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4353	−0.163%	$2K	—	20x	as long as short