Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1058%/8h= −115.8% APRpaid last 24h −0.310%

Price spread now: Paradex against Reya+0.006%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 Paradex

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 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$32 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4322	0.1158	pay 0.0145% / 1h	39m 54s	$2K	—	20x
Short	Paradex ONDO-USD-PERP	0.4323	0.0100	get 0.0100% / 8h	1h 39m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$222.09
Price spread: +0.006% → 0.000%: $0.63
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$231.46
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Paradex: 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 Reya no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Reya and 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	−0.0146%	1h	0.4319	−0.077%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4326	+0.092%	$243K	$136K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4321	−0.026%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.686%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4324	+0.043%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4324	+0.029%	$347K	$898K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4322	−0.008%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4319	−0.067%	$62.6M	$238.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4318	−0.098%	$67.3M	$125.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4319	−0.075%	$17.2M	$73.2M	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	0.4326	+0.084%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4323	+0.013%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4318	−0.098%	$12.3M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	−0.075%	$42.6M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4319	−0.075%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4318	−0.098%	$24.7M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4318	−0.098%	—	$768K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4319	−0.068%	$171K	$998K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	+0.034%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.199%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	+0.179%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	+0.202%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4325	+0.057%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.075%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4324	+0.040%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4321	−0.029%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.179%	$128K	$427K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4321	−0.029%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0100%	8h	0.4323	+0.006%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4318	−0.105%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	−0.006%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4324	+0.043%	$356	$2K	10x	as long as short
Hyperliquid ONDO	+0.0202%	1h	0.4321	−0.022%	$36.2M	$27.3M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4321	−0.029%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4321	−0.029%	$214K	$725K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4334	+0.274%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4327	+0.110%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4320	−0.045%	$486K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1158%	1h	0.4322	long leg	$2K	—	20x