Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Paradex−0.081%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.081% cheaper against Paradex than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4353	0.0102	pay 0.0102% / 8h	4h 37m	$6K	—	10x
Short	gTrade (Gains Network) ONDO/USD	0.4350	L +0.0003% / S −0.0011%	get 0.0001% / 1h	37m 16s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.081%Rate

Funding earned: −$19.26
Price spread: −0.081% → 0.000%: −$8.08
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$41.34
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; gTrade (Gains Network): 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 Paradex no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Paradex and gTrade (Gains Network): 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
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4350	−0.081%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.929%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4352	−0.034%	$2.6M	$7.9M	50x	as long as short
Lighter ONDO	+0.0096%	1h	0.4359	+0.117%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4350	−0.079%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	−0.102%	$367K	$852K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4349	−0.104%	$37.3M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4355	+0.029%	$62.8M	$230.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4352	−0.033%	$67.5M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4353	−0.010%	$16.9M	$72.6M	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	0.4384	+0.709%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4350	−0.083%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4349	−0.102%	$11.5M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4350	−0.079%	$45.4M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4348	−0.125%	$12.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4352	−0.033%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4351	−0.056%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4357	+0.075%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	+0.351%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4371	+0.407%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.508%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4371	+0.404%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4351	−0.049%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4355	+0.036%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4355	+0.036%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4361	+0.174%	$126K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	+0.059%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4353	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4352	−0.029%	$396K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4356	+0.061%	$38K	$13K	3x	as long as short
dYdX ONDO-USD	+0.0197%	1h	0.4354	+0.018%	$246K	$129K	5x	as long as short
Aster ONDOUSDT	+0.0213%	4h	0.4354	+0.023%	$733K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4351	−0.044%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4342	−0.263%	$269K	$720K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.082%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4356	+0.064%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4353	−0.010%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0604% / S −0.0219%	1h	0.4350	−0.087%	$517K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4348	−0.119%	$2K	—	20x	as long as short