Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0592%/8hnext payment +$0.74 per $10,000 · paid last 24h −0.220%

Price spread now: ApeX Omni against Kraken Futures+0.105%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.325%−$32 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now +0.105%, 7d avg −0.027%

Together, before fees−0.481%−$48 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and ApeX Omni is 0.132% dearer against Kraken Futures than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.325%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.325% in total (about -16.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.74 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4420	−0.0492	get 0.0062% / 1h	22m 30s	$2.9M	$7.2M	50x
Short	ApeX Omni ONDOUSDT	0.4425	0.0100	get 0.0013% / 1h	22m 30s	$156K	$352K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now +0.105%Rate

Funding earned: $124.42
Price spread: +0.105% → −0.027%: $13.19
Slippage, 4 orders: −$23.04
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $94.57
Costs to cover: 0.430%
Break-even: 1.7 days

Slippage from Kraken Futures: live order book, 1 min ago; ApeX Omni: live order book, 9 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 Kraken Futures live order book, 1 min ago	1.13 bp	11.3 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	2.27 bp	7.4 bp −$7	19.8 bp −$198	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_ONDOUSDlong	−0.0492%	1h	0.4420	long leg	$2.9M	$7.2M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4425	+0.099%	$6K	—	150x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4422	+0.041%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4420	−0.014%	$454K	$634K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4421	+0.014%	$65.6M	$221.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4416	−0.099%	$69.5M	$114.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4418	−0.054%	$17.3M	$78.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4431	+0.247%	$73K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4423	+0.057%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4420	−0.009%	$11.6M	$18.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ONDO_USDT	+0.0100%	4h	0.4423	+0.059%	$49.5M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4421	+0.014%	$13.5M	$9.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4421	+0.014%	$25.0M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4421	+0.014%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4426	+0.125%	$236K	$942K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4412	−0.179%	$762K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4423	+0.063%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4428	+0.168%	$419K	$792K	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4425	+0.105%	$156K	$352K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4422	+0.030%	$71K	$996K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4423	+0.059%	$24K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4424	+0.082%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4424	+0.082%	$460	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4428	+0.172%	$109K	$526K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4424	+0.082%	$4.9M	$5.8M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4421	+0.020%	$386K	$946K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4426	+0.138%	$35K	—	3x	as long as short
Phoenix ONDO	+0.0127%	1h	0.4410	−0.224%	$28K	$251K	10x	as long as short
Injective ONDO/USDC PERP	+0.0131%	1h	0.4416	−0.099%	$994	$82K	5.5x	as long as short
Aster ONDOUSDT	+0.0145%	4h	0.4423	+0.067%	$753K	$1.8M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0202%	1h	0.4428	+0.172%	$20K	$344K	25x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4424	+0.084%	$364	$1K	10x	as long as short
Hyperliquid ONDO	+0.0299%	1h	0.4427	+0.152%	$39.2M	$26.2M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4425	+0.105%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0520%	1h	0.4430	+0.222%	$1.2M	$1.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0536%	1h	0.4436	+0.353%	$331K	$753K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0600% / S −0.0200%	1h	0.4424	+0.082%	$544K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1135%	1h	0.4420	−0.019%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.1373%	1h	0.4425	+0.106%	$250K	$116K	5x	as long as short