Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h —

Price spread now: RISEx against Injective−5.938%7-day average — · you buy dearer than you sell

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

Long on Injective Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. RISEx is 5.938% cheaper against Injective than usual: you would sell low and buy high (spread −5.938% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$594 on $10k: about 10 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4568	0.0033	pay 0.0004% / 1h	25m 48s	$888	$216K	5.5x
Short	RISEx ONDO/USDC	0.4297	0.0100	get 0.0013% / 1h	25m 48s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Injective. 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 InjectivebpFee RISExbpOrdersPrice spread, now −5.938%Rate

Funding earned: $14
Price spread: −5.938% → 0.000%: −$593.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$585.83
Costs to cover: 0.060%
Break-even: 299.9 days

Slippage unknown: Injective: no order-book sample; RISEx: 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 Injective no order-book sample	—	—	—	—	—
Sell RISEx no order-book sample	—	—	—	—	—

Injective and RISEx: 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	−0.0243%	1h	0.4294	−6.001%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4295	−5.982%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0014%	1h	0.4297	−5.928%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4568	long leg	$888	$216K	5.5x
01 Exchange ONDOUSD	+0.0088%	1h	0.4296	−5.946%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4300	−5.858%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4298	−5.900%	$348K	$877K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4296	−5.944%	$35.8M	$26.5M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4303	−5.803%	$769K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	−5.845%	$61.9M	$236.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4301	−5.845%	$67.1M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4305	−5.757%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4295	−5.965%	$70K	$82K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4297	−5.938%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4293	−6.020%	$12.0M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4294	−5.998%	$42.3M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4291	−6.064%	$11.9M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4295	−5.976%	$24.6M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4294	−5.998%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4294	−5.992%	$176K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4294	−6.003%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4308	−5.702%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	−5.754%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4307	−5.714%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4298	−5.915%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4295	−5.976%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4299	−5.889%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4295	−5.976%	$446	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4305	−5.757%	$127K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4298	−5.911%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4296	−5.945%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4294	−6.008%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4298	−5.902%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	−4.860%	$218K	$763K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4309	−5.674%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4301	−5.845%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0449%	1h	0.4297	−5.933%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4294	−5.988%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4297	−5.937%	$2K	—	20x	as long as short