Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against KuCoin+0.159%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1221.220% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.235%−$23 · spread now +0.159%, 7d avg +0.130%

Together, before fees−0.229%−$23 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: HTX is 0.029% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4390	0.0100	pay 0.0050% / 4h	10m 46s	$12.7M	$10.7M	50x
Short	HTX ONDO-USDT	0.4397	0.0100	get 0.0050% / 4h	10m 46s	$127K	$430K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.130%: $2.94
Slippage, 4 orders: −$97.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$119.02
Costs to cover: 1.220%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; HTX: live order book, 48 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, 8 min ago	1.14 bp	19.7 bp −$20	50.2 bp −$502	doesn't fit	doesn't fit
Sell HTX live order book, 48 min ago	12.55 bp	18.6 bp −$19	doesn't fit	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4388	−0.057%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4386	−0.090%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.055%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4394	+0.087%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4387	−0.068%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4391	+0.034%	$363K	$849K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4391	+0.023%	$63.4M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4388	−0.046%	$67.9M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	0.000%	$17.1M	$73.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4379	−0.251%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4390	−0.011%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4387	−0.068%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4389	−0.023%	$44.5M	$42.0M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4390	long leg	$12.7M	$10.7M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4390	0.000%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4388	−0.046%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4389	−0.018%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	−0.098%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	−0.266%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	−0.272%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.273%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4390	+0.005%	$79K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4389	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	−0.023%	$456	$13K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4397	+0.159%	$127K	$430K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4389	−0.023%	$4.3M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4389	−0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4387	−0.062%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4390	+0.008%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0112%	1h	0.4394	+0.093%	$37.8M	$24.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4392	+0.055%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0226%	4h	0.4393	+0.064%	$760K	$2.5M	20x	as long as short
dYdX ONDO-USD	+0.0241%	1h	0.4389	−0.020%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4389	−0.023%	$272K	$729K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4392	+0.046%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4382	−0.175%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	0.000%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4388	−0.044%	$521K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4390	−0.007%	$2K	—	20x	as long as short