Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.003%

Price spread now: Extended against Orderly+0.022%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Extended

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 airdropExtended: 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: Extended is 0.022% dearer against Orderly than usual: you sell high and buy low, +$2 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	Orderly PERP_ONDO_USDC	0.4592	0.0098	pay 0.0049% / 4h	3h 26m	$25K	$6K	10x
Short	Extended ONDO-USD	0.4593	0.0104	get 0.0013% / 1h	26m 59s	$417K	$826K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now +0.022%Rate

Funding earned: $1.18
Price spread: +0.022% → 0.000%: $2.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$7.64
Costs to cover: 0.110%
Break-even: 52.1 days

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 46 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 46 min ago	3.29 bp	6.2 bp −$6	16.1 bp −$161	doesn't fit	doesn't fit

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	−0.0870%	1h	0.4593	+0.024%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4601	+0.189%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4592	+0.003%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.523%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDClong	+0.0098%	4h	0.4592	long leg	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4595	+0.076%	$431K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4597	+0.108%	$726K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4595	+0.057%	$68.9M	$223.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4595	+0.065%	$74.3M	$119.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4597	+0.109%	$17.6M	$78.8M	50x	as long as short

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	0.4613	+0.462%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4597	+0.116%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4593	+0.022%	$12.0M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4593	+0.022%	$50.1M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4595	+0.065%	$14.2M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4595	+0.065%	$26.1M	$39.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4594	+0.044%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4598	+0.122%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4597	+0.104%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4600	+0.183%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	+0.292%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4601	+0.196%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4601	+0.192%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4593	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	+0.044%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4605	+0.283%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4597	+0.109%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	+0.139%	$7K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4593	+0.022%	$417K	$826K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4596	+0.092%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0185%	1h	0.4595	+0.065%	$34K	$353K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4603	+0.231%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4603	+0.246%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.849%	$300K	$827K	50x	as long as short
Hyperliquid ONDO	+0.0309%	1h	0.4600	+0.179%	$40.9M	$25.6M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4596	+0.087%	$3.3M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4592	+0.002%	$549K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4605	+0.274%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4591	−0.021%	$2K	—	20x	as long as short