Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h +0.031%

Price spread now: Kraken Futures against KuCoin−0.008%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.263%+$26 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.008%, 7d avg +0.043%

Together, before fees+0.304%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.051% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.263%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4323	0.0100	pay 0.0050% / 4h	6m 07s	$12.1M	$10.4M	50x
Short	Kraken Futures PF_ONDOUSD	0.4323	−0.0176	pay 0.0022% / 1h	6m 07s	$2.5M	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$57.92
Price spread: −0.008% → +0.043%: −$5.07
Slippage, 4 orders: −$40.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$125.02
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Kraken Futures: live order book, 3 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, 2 min ago	1.16 bp	15.8 bp −$16	46.0 bp −$460	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.32 bp	15.9 bp −$16	26.2 bp −$262	380.2 bp −$38.0K	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
Kraken Futures PF_ONDOUSDshort	−0.0176%	1h	0.4323	−0.008%	$2.5M	$7.7M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4323	−0.012%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.667%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4328	+0.106%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4325	+0.046%	$346K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4327	+0.081%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	+0.023%	$63.1M	$234.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4323	0.000%	$68.2M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	0.000%	$17.3M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	−0.201%	$71K	$80K	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	0.4326	+0.064%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4322	−0.023%	$13.0M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4322	−0.023%	$44.2M	$42.7M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4323	long leg	$12.1M	$10.4M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4323	0.000%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4324	+0.023%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4324	+0.014%	$176K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4316	−0.163%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.153%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4318	−0.116%	$403K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4315	−0.185%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4325	+0.051%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4323	0.000%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4325	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4325	+0.046%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.162%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4322	−0.023%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4324	+0.025%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4324	+0.028%	$360K	$818K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4327	+0.084%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4325	+0.046%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4328	+0.120%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4325	+0.046%	$214K	$733K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4323	−0.012%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4319	−0.093%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0411%	1h	0.4328	+0.125%	$36.6M	$27.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4321	−0.042%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4324	+0.026%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1707%	1h	0.4323	−0.012%	$243K	$155K	5x	as long as short