Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Orderly against Ondo Perps−0.113%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: 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: Orderly is 0.113% cheaper against Ondo Perps than usual: you would sell low and buy high, −$11 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	Ondo Perps ONDO-USD.P	0.4508	0.0100	pay 0.0013% / 1h	1m 21s	$72K	$91K	10x
Short	Orderly PERP_ONDO_USDC	0.4503	0.0100	get 0.0050% / 4h	3h 01m	$25K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Ondo Perps. 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 Ondo PerpsbpFee OrderlybpOrdersPrice spread, now −0.113%Rate

Funding earned: −$0.05
Price spread: −0.113% → 0.000%: −$11.31
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$22.36
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Orderly: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Ondo Perps and Orderly: 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	−0.0883%	1h	0.4524	+0.346%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4514	+0.135%	$255K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	+0.397%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4504	−0.092%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+1.329%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4503	−0.113%	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4508	−0.008%	$423K	$731K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4510	+0.042%	$710K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4506	−0.047%	$67.0M	$223.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4504	−0.091%	$72.3M	$119.7M	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	0.4504	−0.091%	$17.2M	$76.4M	50x	as long as short
Ondo Perps ONDO-USD.Plong	+0.0100%	1h	0.4508	long leg	$72K	$91K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4507	−0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4503	−0.113%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4503	−0.113%	$47.3M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4504	−0.091%	$13.8M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4507	−0.024%	$25.5M	$38.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4506	−0.047%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	+0.266%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+1.498%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4550	+0.930%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+1.573%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4543	+0.774%	$169K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4509	+0.024%	$91K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	+0.331%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	+0.308%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	+0.530%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	+0.397%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4510	+0.046%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4507	−0.026%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4527	+0.430%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4541	+0.721%	$37K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4511	+0.062%	$371	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	+0.486%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.708%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0368%	1h	0.4511	+0.060%	$40.1M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0187%	1h	0.4503	−0.103%	$537K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4523	+0.328%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4507	−0.019%	$2K	—	20x	as long as short