Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against HTX+0.023%7-day average −0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1031.028% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.023%, 7d avg −0.142%

Together, before fees−0.209%−$21 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: Phemex is 0.165% dearer against HTX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4335	0.0100	pay 0.0050% / 4h	1h 45m	$128K	$429K	50x
Short	Phemex ONDOUSDT	0.4336	0.0100	get 0.0050% / 4h	1h 45m	$4.2M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.142%: $16.47
Slippage, 4 orders: −$78.82
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$86.35
Costs to cover: 1.028%
Break-even: never at this rate

Slippage from HTX: live order book, 63 min ago; Phemex: 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 HTX live order book, 63 min ago	10.35 bp	50.7 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	6.91 bp	19.7 bp −$20	28.0 bp −$280	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	−0.0146%	1h	0.4336	+0.012%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4325	−0.226%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4335	−0.003%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.375%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4339	+0.097%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.012%	$348K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4336	+0.031%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.023%	$63.0M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4331	−0.092%	$67.5M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	−0.069%	$17.3M	$73.6M	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	0.4348	+0.293%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4325	−0.235%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4333	−0.046%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	0.000%	$42.9M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	0.000%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	+0.023%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4335	0.000%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4337	+0.055%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.260%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	−0.068%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	−0.077%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	−0.069%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4336	+0.025%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4336	+0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4326	−0.208%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	+0.023%	$451	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4335	long leg	$128K	$429K	50x
Phemex ONDOUSDTshort	+0.0100%	4h	0.4336	+0.023%	$4.2M	$8.5M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4324	−0.259%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4336	+0.012%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4340	+0.104%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0192%	1h	0.4327	−0.189%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	−0.161%	$214K	$727K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4331	−0.085%	$34K	$223K	10x	as long as short
Hyperliquid ONDO	+0.0333%	1h	0.4337	+0.046%	$36.4M	$27.3M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	+0.023%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4338	+0.069%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4335	+0.009%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4334	−0.017%	$2K	—	20x	as long as short