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% APRpaid last 24h 0.000%

Price spread now: Paradex against KuCoin−0.039%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.039% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4569	0.0100	pay 0.0050% / 4h	12m 34s	$14.1M	$11.1M	50x
Short	Paradex ONDO-USD-PERP	0.4567	0.0100	get 0.0100% / 8h	12m 34s	$7K	$9	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0.08
Price spread: −0.039% → 0.000%: −$3.87
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$19.8
Costs to cover: 0.160%
Break-even: 1828.3 days

Slippage unknown: KuCoin: live order book, 6 min ago; Paradex: 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, 6 min ago	1.10 bp	19.6 bp −$20	44.2 bp −$442	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0800%	1h	0.4561	−0.166%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.022%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4564	−0.109%	$35K	$366K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4563	−0.127%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4562	−0.153%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4567	−0.049%	$439K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4574	+0.114%	$40.5M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4571	+0.044%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4569	−0.001%	$68.3M	$226.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4568	−0.022%	$74.2M	$120.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4568	−0.022%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4567	−0.055%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4568	−0.025%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4566	−0.066%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4569	0.000%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4569	long leg	$14.1M	$11.1M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4569	0.000%	$25.8M	$40.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4569	0.000%	—	$740K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4565	−0.092%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	−0.025%	$810K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4569	−0.006%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4569	0.000%	$422K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4569	0.000%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4566	−0.057%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4563	−0.131%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4563	−0.131%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4573	+0.088%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4563	−0.131%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0100%	8h	0.4567	−0.039%	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4567	−0.041%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4565	−0.098%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	−0.079%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0296%	1h	0.4571	+0.033%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.153%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	−0.088%	$3.2M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4562	−0.146%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4577	+0.186%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4562	−0.152%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2945%	1h	0.4569	+0.001%	$259K	$132K	5x	as long as short