Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h −0.056%

Price spread now: Gate against Kraken Futures+0.032%7-day average −0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$650.653% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.318%−$32 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.032%, 7d avg −0.100%

Together, before fees−0.405%−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Gate is 0.131% 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 −0.100%. Mind the row above: over the last 7 days funding on this pair cost −0.318%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4388	−0.0160	get 0.0020% / 1h	47m 59s	$2.6M	$7.8M	50x
Short	Gate ONDO_USDT	0.4389	0.0100	get 0.0050% / 4h	3h 47m	$11.7M	$16.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.032%Rate

Funding earned: $54.51
Price spread: +0.032% → −0.100%: $13.14
Slippage, 4 orders: −$40.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $2.36
Costs to cover: 0.653%
Break-even: 6.7 days

Slippage from Kraken Futures: live order book, 1 min ago; Gate: 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 Kraken Futures live order book, 1 min ago	6.83 bp	16.1 bp −$16	24.9 bp −$249	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.14 bp	18.0 bp −$18	27.9 bp −$279	48.9 bp −$4,894	83.2 bp −$41.6K

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	−0.0160%	1h	0.4388	long leg	$2.6M	$7.8M	50x
dYdX ONDO-USD	0.0000%	1h	0.4388	+0.014%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4389	+0.025%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.111%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4394	+0.143%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4389	+0.032%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	+0.100%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4391	+0.084%	$63.5M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4389	+0.032%	$68.1M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4392	+0.100%	$17.2M	$73.3M	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	0.4408	+0.467%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4390	+0.060%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4389	+0.032%	$11.7M	$16.0M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4389	+0.032%	$44.0M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4389	+0.032%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4390	+0.055%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4390	+0.055%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4390	+0.064%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4404	+0.367%	$719K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4407	+0.448%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4413	+0.579%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4409	+0.488%	$136K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	+0.132%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4391	+0.077%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	+0.032%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4404	+0.374%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4389	+0.032%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4391	+0.081%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4389	+0.021%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4391	+0.077%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4391	+0.080%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0220%	4h	0.4390	+0.063%	$781K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4408	+0.465%	$272K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0289%	1h	0.4393	+0.130%	$37.8M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4398	+0.237%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.146%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4391	+0.077%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4386	−0.036%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4391	+0.083%	$2K	—	20x	as long as short