Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against KuCoin−0.025%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.025% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4421	0.0100	pay 0.0050% / 4h	2h 34m	$13.2M	$11.1M	50x
Short	gTrade (Gains Network) ONDO/USD	0.4420	L +0.0003% / S −0.0007%	get 0.0001% / 1h	34m 17s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.025%Rate

Funding earned: −$19.52
Price spread: −0.025% → 0.000%: −$2.51
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$44.03
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 9 min ago; gTrade (Gains Network): 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 KuCoin live order book, 9 min ago	1.13 bp	7.1 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0362%	1h	0.4416	−0.110%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4416	−0.122%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0007%	1h	0.4420	−0.025%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.325%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4418	−0.068%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	0.000%	$396K	$855K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4422	+0.023%	$689K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4422	+0.020%	$64.4M	$232.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4419	−0.045%	$70.2M	$125.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4419	−0.045%	$17.1M	$76.2M	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	0.4401	−0.457%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4419	−0.036%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4419	−0.045%	$11.6M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4421	0.000%	$43.7M	$42.7M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4421	long leg	$13.2M	$11.1M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4418	−0.068%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4420	−0.023%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4421	+0.011%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4418	−0.072%	$779K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4403	−0.401%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4401	−0.447%	$406K	$962K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4413	−0.181%	$136K	$371K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4422	+0.032%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4420	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4419	−0.045%	$459	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4428	+0.158%	$129K	$515K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4420	−0.029%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4419	−0.043%	$398K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4419	−0.035%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4419	−0.045%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0253%	1h	0.4424	+0.066%	$39.1M	$25.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.023%	$284K	$792K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4425	+0.084%	$364	$2K	10x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	−0.075%	$35K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	+1.131%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4418	−0.058%	$487K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4426	+0.115%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.0786%	4h	0.4421	0.000%	$4.2M	$7.3M	50x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4422	+0.012%	$2K	—	20x	as long as short