Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.3619%/8h= +396.2% APRpaid last 24h +1.207%

Price spread now: dYdX against KuCoin+0.002%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs+$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.813%+$281 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.002%, 7d avg −0.032%

Together, before fees+2.801%+$280 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$109 a day on $10k at the current rate, and dYdX is 0.034% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4278	0.0100	pay 0.0050% / 4h	1h 26m	$13.0M	$9.5M	50x
Short	dYdX ONDO-USD	0.4278	0.3719	get 0.0465% / 1h	26m 35s	$245K	$159K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $759.93
Price spread: +0.002% → −0.032%: $3.39
Slippage, 4 orders: −$86.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: $655.13
Costs to cover: 1.082%
Break-even: 1.0 days

Slippage from KuCoin: live order book, 5 min ago; dYdX: live order book, 21 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 KuCoin live order book, 5 min ago	1.17 bp	17.9 bp −$18	49.8 bp −$498	doesn't fit	doesn't fit
Sell dYdX live order book, 21 min ago	10.37 bp	50.2 bp −$50	242.8 bp −$2,428	266.2 bp −$26.6K	523.6 bp −$261.8K

ONDO on 39 exchanges

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	−0.0328%	1h	0.4282	+0.094%	$2.5M	$7.0M	50x	as long as short
01 Exchange ONDOUSD	−0.0008%	1h	0.4279	+0.030%	$352	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4282	+0.094%	$21K	$365K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4283	+0.112%	$7K	—	150x	as long as short
Bybit ONDOUSDT	+0.0025%	4h	0.4275	−0.070%	$66.1M	$116.3M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.779%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4283	+0.119%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4280	+0.047%	$23K	$7K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4279	+0.035%	$330K	$830K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4285	+0.161%	$35.9M	$27.2M	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4281	+0.061%	$759K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4279	+0.016%	$61.8M	$222.2M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4275	−0.070%	$16.9M	$67.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4286	+0.199%	$68K	$73K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4281	+0.069%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4278	0.000%	$13.8M	$13.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4277	−0.023%	$43.4M	$41.0M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4278	long leg	$13.0M	$9.5M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4277	−0.023%	$24.7M	$33.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4277	−0.023%	—	$23.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4282	+0.103%	$183K	$985K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4270	−0.175%	$666K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4279	+0.028%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4273	−0.111%	$401K	$2.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4280	+0.047%	$85K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4281	+0.077%	$55K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4280	+0.047%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4283	+0.117%	$445	$16K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4289	+0.257%	$105K	$463K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4283	+0.117%	$4.1M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4276	−0.055%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4275	−0.081%	$346K	$769K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4282	+0.084%	$37K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0173% / S +0.0186%	1h	0.4279	+0.031%	$326K	—	100x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4281	+0.063%	$34K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4282	+0.094%	$211K	$605K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4282	+0.094%	$3.2M	$3.0M	75x	as long as short
Reya ONDORUSDPERP	+0.1167%	1h	0.4278	+0.010%	$2K	—	20x	as long as short
dYdX ONDO-USDshort	+0.3719%	1h	0.4278	+0.002%	$245K	$159K	5x