Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1053%/8h= −115.3% APRpaid last 24h −0.308%

Price spread now: Phemex 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 Phemex

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 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	0.4388	0.1153	pay 0.0144% / 1h	44m 13s	$2K	—	20x
Short	Phemex ONDOUSDT	0.4388	0.0100	get 0.0050% / 4h	3h 44m	$4.3M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$221.17
Price spread: +0.006% → 0.000%: $0.61
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$238.56
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	1.14 bp	15.6 bp −$16	23.8 bp −$238	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 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	−0.0160%	1h	0.4386	−0.035%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4386	−0.034%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4386	−0.042%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.108%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4392	+0.095%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4387	−0.017%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4388	+0.006%	$362K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4389	+0.029%	$63.5M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4387	−0.017%	$68.1M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4389	+0.029%	$17.2M	$73.1M	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	0.4382	−0.128%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4387	−0.022%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4386	−0.039%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4387	−0.017%	$43.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4387	−0.017%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4388	+0.006%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4388	+0.006%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4391	+0.068%	$185K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	−0.046%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	+0.063%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	+0.052%	$407K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4390	+0.052%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4388	+0.008%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4387	−0.017%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4388	+0.006%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4394	+0.143%	$130K	$432K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4388	+0.006%	$4.3M	$7.9M	50x
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4386	−0.032%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4387	−0.016%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4389	+0.037%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4388	+0.011%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0211%	4h	0.4389	+0.029%	$784K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	+0.052%	$260K	$739K	50x	as long as short
Hyperliquid ONDO	+0.0303%	1h	0.4392	+0.102%	$37.8M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4391	+0.079%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4389	+0.029%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4389	+0.029%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0557% / S −0.0193%	1h	0.4386	−0.029%	$488K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1153%	1h	0.4388	long leg	$2K	—	20x