Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1065%/8h= +116.7% APRpaid last 24h +0.312%

Price spread now: Reya against KuCoin+0.067%49s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Reya

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 airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Reya is 0.067% dearer against KuCoin than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4340	0.0100	pay 0.0050% / 4h	2h 03m	$13.1M	$9.6M	50x
Short	Reya ONDORUSDPERP	0.4343	0.1165	get 0.0146% / 1h	3m 41s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.067%Rate

Funding earned: $223.74
Price spread: +0.067% → 0.000%: $6.65
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $212.39
Costs to cover: 0.180%
Break-even: 0.4 days

Slippage unknown: KuCoin: live order book, 3 min ago; Reya: 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, 3 min ago	2.31 bp	17.7 bp −$18	48.3 bp −$483	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 exchanges

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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4345	+0.115%	$22K	$370K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4344	+0.084%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4344	+0.086%	$2.6M	$7.5M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.253%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.111%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4342	+0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4343	+0.058%	$339K	$828K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4342	+0.046%	$769K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	0.000%	$63.3M	$223.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4337	−0.069%	$68.3M	$116.9M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4339	−0.023%	$17.3M	$67.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4344	+0.101%	$72K	$74K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4344	+0.102%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4339	−0.023%	$13.8M	$14.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4340	0.000%	$46.3M	$41.7M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4340	long leg	$13.1M	$9.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4340	0.000%	$25.3M	$33.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4340	0.000%	—	$782K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4343	+0.067%	$182K	$990K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4341	+0.034%	$801K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4335	−0.114%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4342	+0.047%	$407K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	−0.184%	$134K	$319K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4345	+0.111%	$60K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4346	+0.138%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4345	+0.115%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4358	+0.415%	$106K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4344	+0.092%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4338	−0.047%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	−0.044%	$364K	$772K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	+0.098%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0114%	1h	0.4343	+0.071%	$36.6M	$26.7M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4340	−0.002%	$357	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4348	+0.182%	$35K	$217K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4353	+0.300%	$214K	$620K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4349	+0.207%	$3.2M	$2.9M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0203%	1h	0.4343	+0.061%	$496K	—	100x	as long as short
Reya ONDORUSDPERPshort	+0.1165%	1h	0.4343	+0.067%	$2K	—	20x
dYdX ONDO-USD	+0.3283%	1h	0.4341	+0.024%	$248K	$159K	5x	as long as short