Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.153%

Price spread now: Coinbase International against Paradex+0.132%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 0.132% dearer against Paradex than usual: you sell high and buy low: +$13 more if the spread 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	0.4507	0.0100	pay 0.0100% / 8h	3h 31m	$6K	$9	10x
Short	Coinbase International ONDO-PERP-INTX	0.4513	0.0472	get 0.0059% / 1h	31m 24s	$318K	$804K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.132%Rate

Funding earned: $78.12
Price spread: +0.132% → 0.000%: $13.19
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $77.31
Costs to cover: 0.140%
Break-even: 0.1 days

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 17 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 Coinbase International live order book, 17 min ago	12.37 bp	17.4 bp −$17	53.2 bp −$532	doesn't fit	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
Kraken Futures PF_ONDOUSD	−0.0940%	1h	0.4506	−0.018%	$2.9M	$7.3M	50x	as long as short
Phemex ONDOUSDT	−0.0573%	4h	0.4509	+0.043%	$5.0M	$6.0M	50x	as long as short
Bybit ONDOUSDT	−0.0072%	4h	0.4506	−0.023%	$71.6M	$113.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4511	+0.088%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4509	+0.038%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.020%	$994	$82K	5.5x	as long as short
Paradex ONDO-USD-PERPlong	+0.0100%	8h	0.4507	long leg	$6K	$9	10x
Nado ONDO-PERP	+0.0100%	1h	0.4504	−0.068%	$439K	$648K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4509	+0.043%	$66.9M	$217.8M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4505	−0.046%	$17.7M	$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	0.4503	−0.088%	$74K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4508	+0.030%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4505	−0.046%	$11.8M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4507	−0.001%	$52.2M	$44.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4507	−0.001%	$14.2M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4509	+0.043%	$25.7M	$40.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4508	+0.021%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4508	+0.023%	$224K	$940K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4492	−0.344%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4503	−0.083%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4508	+0.020%	$425K	$856K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4507	−0.001%	$159K	$326K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4508	+0.025%	$72K	$997K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4507	−0.001%	$25K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4510	+0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4506	−0.023%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4517	+0.221%	$124K	$513K	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4506	−0.023%	$404K	$995K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4509	+0.039%	$36K	—	3x	as long as short
Aster ONDOUSDT	+0.0117%	4h	0.4510	+0.065%	$757K	$1.9M	20x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4506	−0.017%	$29K	$222K	10x	as long as short
01 Exchange ONDOUSD	+0.0288%	1h	0.4510	+0.059%	$371	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4508	+0.021%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0448%	1h	0.4511	+0.085%	$40.9M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0472%	1h	0.4513	+0.132%	$318K	$804K	50x
GMX ONDO/USD [ETH-USDC]	L +0.0611% / S −0.0203%	1h	0.4508	+0.032%	$560K	—	100x	as long as short
Lighter ONDO	+0.0720%	1h	0.4512	+0.119%	$1.2M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1136%	1h	0.4505	−0.048%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.7276%	1h	0.4507	−0.005%	$255K	$117K	5x	as long as short