Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Bitget against Paradex−0.090%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: 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: Bitget is 0.090% cheaper against Paradex than usual: you would sell low and buy high, −$9 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	Paradex ONDO-USD-PERP	0.4404	0.0104	pay 0.0104% / 8h	5h 08m	$6K	—	10x
Short	Bitget ONDOUSDT	0.4400	0.0100	get 0.0050% / 4h	1h 08m	$25.1M	$39.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Paradex. 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 ParadexbpFee BitgetbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$0.76
Price spread: −0.090% → 0.000%: −$8.97
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$25.74
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bitget: live order book, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	2.27 bp	11.6 bp −$12	18.3 bp −$183	64.9 bp −$6,488	doesn't fit

Paradex: 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
dYdX ONDO-USD	+0.0001%	1h	0.4397	−0.155%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	+0.035%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.725%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4401	−0.072%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4405	+0.024%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4403	−0.027%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4399	−0.112%	$63.9M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4399	−0.112%	$69.8M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4400	−0.090%	$17.1M	$71.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	−0.076%	$73K	$86K	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/USDC	+0.0100%	1h	0.4403	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4400	−0.090%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4401	−0.067%	$47.7M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4402	−0.044%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4400	−0.090%	$25.1M	$39.4M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4398	−0.135%	—	$21.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4410	+0.129%	$714K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4414	+0.228%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4418	+0.323%	$408K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	+0.296%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4406	+0.051%	$64K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4403	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4406	+0.046%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4408	+0.092%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4401	−0.067%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0104%	8h	0.4404	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4405	+0.025%	$398K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	+0.092%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0137%	1h	0.4402	−0.040%	$38.2M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0181%	1h	0.4402	−0.051%	$191K	$979K	15x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4406	+0.046%	$736K	$2.3M	20x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4427	+0.514%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4399	−0.112%	$3.1M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4406	+0.056%	$363	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.410%	$281K	$719K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4407	+0.069%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	+0.014%	$486K	—	100x	as long as short
Lighter ONDO	+0.0864%	1h	0.4410	+0.144%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4407	+0.067%	$2K	—	20x	as long as short