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: Ondo Perps against Orderly+0.393%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 Ondo Perps

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: Ondo Perps is 0.393% dearer against Orderly than usual: you sell high and buy low, +$39 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	0.4526	0.0100	pay 0.0050% / 4h	3h 01m	$25K	$6K	10x
Short	Ondo Perps ONDO-USD.P	0.4544	0.0100	get 0.0013% / 1h	1m 50s	$73K	$91K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.393%Rate

Funding earned: $0.05
Price spread: +0.393% → 0.000%: $39.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $28.38
Costs to cover: 0.110%
Break-even: from the start

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

Orderly and Ondo Perps: 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	−0.051%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	+0.182%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	0.000%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	+0.043%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.928%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4526	long leg	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4528	+0.044%	$425K	$718K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4518	−0.175%	$712K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4517	−0.190%	$67.2M	$222.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4513	−0.287%	$72.4M	$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	0.4514	−0.265%	$17.3M	$76.5M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4544	+0.393%	$73K	$91K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4525	−0.016%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4513	−0.287%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4515	−0.243%	$47.5M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4518	−0.177%	$14.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4516	−0.221%	$25.6M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4513	−0.287%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−0.130%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+1.097%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+1.549%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+1.171%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	+1.083%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	+0.075%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	−0.088%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	+0.133%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	0.000%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	+0.059%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4516	−0.227%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4527	+0.033%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+1.317%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	+0.060%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	+0.088%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.309%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0371%	1h	0.4520	−0.144%	$40.2M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4529	+0.071%	$540K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4523	−0.068%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	+0.050%	$2K	—	20x	as long as short