Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Gate against KuCoin−0.088%7-day average −0.045% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$710.708% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.088%, 7d avg −0.045%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.042% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4563	0.0100	pay 0.0050% / 4h	43m 22s	$13.8M	$11.0M	50x
Short	Gate ONDO_USDT	0.4559	0.0100	get 0.0050% / 4h	43m 22s	$12.0M	$18.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → −0.045%: −$4.22
Slippage, 4 orders: −$43.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$75.04
Costs to cover: 0.708%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Gate: live order book, 5 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	1.09 bp	19.8 bp −$20	40.6 bp −$406	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.10 bp	13.7 bp −$14	27.3 bp −$273	42.4 bp −$4,237	73.9 bp −$37.0K

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	−0.0800%	1h	0.4560	−0.074%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.110%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4561	−0.044%	$36K	$436K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4561	−0.041%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4561	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4560	−0.066%	$430K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4562	−0.014%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4562	−0.014%	$68.2M	$227.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4562	−0.022%	$74.0M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4562	−0.022%	$17.8M	$81.1M	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	0.4566	+0.059%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4559	−0.089%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4559	−0.088%	$12.0M	$18.0M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4561	−0.044%	$49.5M	$43.3M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4563	long leg	$13.8M	$11.0M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4561	−0.044%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4562	−0.022%	—	$739K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4573	+0.218%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4565	+0.051%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4563	0.000%	$421K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4564	+0.022%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	−0.002%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4563	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4560	−0.066%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4571	+0.175%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4570	+0.153%	$4.7M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4560	−0.074%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4559	−0.094%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4563	0.000%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0175%	1h	0.4570	+0.156%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4573	+0.230%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4565	+0.044%	$299K	$852K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4566	+0.066%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0340%	1h	0.4565	+0.042%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4563	−0.009%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4561	−0.037%	$544K	—	100x	as long as short
Lighter ONDO	+0.0928%	1h	0.4573	+0.210%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4561	−0.035%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6293%	1h	0.4565	+0.043%	$258K	$131K	5x	as long as short