Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.069%

Price spread now: Kraken Futures against OKX−0.024%7-day average +0.089% · 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−$79as in the Price arb table

costs, in and out, $10k−$680.676% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.312%+$31 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.024%, 7d avg +0.089%

Together, before fees+0.335%+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.113% cheaper against OKX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.089%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.312%, 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	OKX ONDO-USDT-SWAP	0.4353	0.0100	pay 0.0050% / 4h	37m 17s	$16.9M	$72.6M	50x
Short	Kraken Futures PF_ONDOUSD	0.4352	0.0033	get 0.0004% / 1h	37m 17s	$2.6M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$13.99
Price spread: −0.024% → +0.089%: −$11.28
Slippage, 4 orders: −$47.56
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$92.84
Costs to cover: 0.676%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 OKX live order book, 2 min ago	2.30 bp	10.1 bp −$10	21.4 bp −$214	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	14.94 bp	22.8 bp −$23	30.2 bp −$302	521.1 bp −$52.1K	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	0.4350	−0.071%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.939%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDshort	+0.0033%	1h	0.4352	−0.024%	$2.6M	$7.9M	50x
Lighter ONDO	+0.0096%	1h	0.4359	+0.126%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4350	−0.069%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	−0.092%	$367K	$852K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4349	−0.094%	$37.3M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4355	+0.039%	$62.8M	$230.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4352	−0.023%	$67.5M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4353	long leg	$16.9M	$72.6M	50x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4384	+0.719%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4350	−0.074%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4349	−0.092%	$11.5M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4350	−0.069%	$45.4M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4348	−0.115%	$12.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4352	−0.023%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4351	−0.046%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4357	+0.085%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	+0.360%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4371	+0.416%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.518%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4371	+0.414%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4351	−0.039%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4355	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4355	+0.046%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4361	+0.184%	$126K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	+0.069%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4353	+0.010%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4352	−0.019%	$396K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4356	+0.071%	$38K	$13K	3x	as long as short
dYdX ONDO-USD	+0.0197%	1h	0.4354	+0.028%	$246K	$129K	5x	as long as short
Aster ONDOUSDT	+0.0213%	4h	0.4354	+0.032%	$733K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4351	−0.034%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4342	−0.253%	$269K	$720K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.092%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4356	+0.074%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4353	0.000%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0604% / S −0.0219%	1h	0.4350	−0.077%	$517K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4348	−0.110%	$2K	—	20x	as long as short