Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.22 per $10,000 · paid last 24h —

Price spread now: Coinbase International against RISEx+0.465%7-day average — · you sell dearer than you buy

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

Long on RISEx Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.465% dearer against RISEx than usual: you sell high and buy low: +$47 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	RISEx ONDO/USDC	0.4610	0.0100	pay 0.0013% / 1h	24m 09s	—	—	5x
Short	Coinbase International ONDO-PERP-INTX	0.4631	0.0280	get 0.0035% / 1h	24m 09s	$300K	$827K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against RISEx. 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 RISExbpFee Coinbase InternationalbpOrdersPrice spread, now +0.465%Rate

Funding earned: $37.8
Price spread: +0.465% → 0.000%: $46.54
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $68.34
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: RISEx: no order-book sample; Coinbase International: live order book, 49 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 RISEx no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 49 min ago	8.77 bp	13.8 bp −$14	41.9 bp −$419	doesn't fit	doesn't fit

RISEx: 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	−0.0867%	1h	0.4605	−0.094%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4613	+0.080%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4610	+0.010%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.901%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4610	+0.010%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4612	+0.053%	$433K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4615	+0.118%	$729K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4606	−0.074%	$69.0M	$222.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4605	−0.099%	$74.4M	$119.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4605	−0.099%	$17.7M	$78.6M	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	0.4588	−0.472%	$73K	$91K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4610	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4610	+0.010%	$12.1M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4606	−0.077%	$50.2M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4611	+0.032%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4602	−0.164%	$26.1M	$38.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4603	−0.142%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4605	−0.101%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4616	+0.134%	$820K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4598	−0.241%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4598	−0.251%	$431K	$970K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4595	−0.316%	$171K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4613	+0.086%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4611	+0.032%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4608	−0.034%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4615	+0.118%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4605	−0.099%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4612	+0.046%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4608	−0.024%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4611	+0.032%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4612	+0.053%	$34K	$349K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4598	−0.244%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4610	+0.010%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4631	+0.465%	$300K	$827K	50x
Hyperliquid ONDO	+0.0317%	1h	0.4616	+0.140%	$41.0M	$25.0M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4615	+0.118%	$3.3M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4610	+0.007%	$550K	—	100x	as long as short
Lighter ONDO	+0.0632%	1h	0.4616	+0.144%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4611	+0.026%	$2K	—	20x	as long as short