Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1047%/8h= −114.7% APRpaid last 24h −0.306%

Price spread now: HTX against Reya+0.146%7-day average — · you sell dearer than you buy

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

Long on Reya Short on HTX

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 airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.146% dearer against Reya than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4422	0.1147	pay 0.0143% / 1h	33m 43s	$2K	—	20x
Short	HTX ONDO-USDT	0.4428	0.0100	get 0.0050% / 4h	2h 33m	$129K	$515K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Reya. 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 ReyabpFee HTXbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$219.88
Price spread: +0.146% → 0.000%: $14.65
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$223.23
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 35 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 Reya no order-book sample	—	—	—	—	—
Sell HTX live order book, 35 min ago	35.74 bp	43.4 bp −$43	doesn't fit	doesn't fit	doesn't fit

Reya: 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 38 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	−0.0362%	1h	0.4416	−0.122%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4404	−0.403%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4420	−0.037%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.313%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4418	−0.080%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	−0.012%	$396K	$855K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4411	−0.247%	$687K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4401	−0.469%	$64.1M	$232.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4397	−0.555%	$69.8M	$125.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4398	−0.532%	$17.1M	$75.7M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	−0.469%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4398	−0.530%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4398	−0.532%	$11.6M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4399	−0.509%	$43.8M	$42.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4404	−0.396%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4398	−0.532%	$24.9M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4398	−0.532%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4420	−0.030%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4418	−0.084%	$779K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4415	−0.142%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4401	−0.459%	$406K	$962K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4413	−0.193%	$136K	$371K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4422	+0.020%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4420	−0.034%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4419	−0.057%	$459	$14K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4428	+0.146%	$129K	$515K	50x
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4401	−0.458%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4396	−0.570%	$398K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4419	−0.047%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4419	−0.057%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0254%	1h	0.4406	−0.349%	$38.9M	$25.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.011%	$284K	$792K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	−0.086%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0344%	1h	0.4401	−0.464%	$362	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4418	−0.070%	$487K	—	100x	as long as short
Phemex ONDOUSDT	+0.0714%	4h	0.4421	−0.012%	$4.2M	$7.3M	50x	as long as short
Lighter ONDO	+0.0784%	1h	0.4409	−0.276%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1147%	1h	0.4422	long leg	$2K	—	20x