Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h —

Price spread now: RISEx against Lighter−0.124%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: RISEx is 0.124% cheaper against Lighter than usual: you would sell low and buy high, −$12 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	Lighter ONDO	0.4321	0.0096	pay 0.0012% / 1h	34m 09s	$1.1M	$2.3M	10x
Short	RISEx ONDO/USDC	0.4316	0.0100	get 0.0013% / 1h	34m 09s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Lighter. 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 LighterbpFee RISExbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.84
Price spread: −0.124% → 0.000%: −$12.36
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$17.52
Costs to cover: 0.060%
Break-even: 153.0 days

Slippage unknown: Lighter: live order book, 3 min ago; RISEx: 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 Lighter live order book, 3 min ago	4.63 bp	7.2 bp −$7	24.9 bp −$249	doesn't fit	doesn't fit
Sell RISEx no order-book sample	—	—	—	—	—

RISEx: 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	−0.0176%	1h	0.4316	−0.117%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4317	−0.108%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.704%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4321	long leg	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4317	−0.104%	$346K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	−0.081%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4317	−0.107%	$62.6M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4314	−0.174%	$67.7M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4316	−0.127%	$17.2M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4325	+0.093%	$71K	$81K	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/USDCshort	+0.0100%	1h	0.4316	−0.124%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4315	−0.150%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4317	−0.104%	$43.5M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4318	−0.081%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4316	−0.127%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4316	−0.127%	—	$777K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4316	−0.123%	$175K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	−0.274%	$677K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4320	−0.035%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4329	+0.174%	$399K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4319	−0.058%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4319	−0.049%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	−0.104%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4318	−0.081%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4318	−0.081%	$489	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4328	+0.150%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4317	−0.104%	$4.2M	$8.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4311	−0.244%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4316	−0.126%	$353K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4321	−0.022%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4321	−0.019%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4324	+0.058%	$214K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	+0.248%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4312	−0.220%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0351%	1h	0.4319	−0.051%	$36.4M	$27.2M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0445%	1h	0.4319	−0.058%	$18K	$351K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4314	−0.166%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4317	−0.108%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1609%	1h	0.4311	−0.240%	$242K	$156K	5x	as long as short