Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h —

Price spread now: Injective against RISEx+5.874%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 Injective

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

The price spread pays, funding is against you. Injective is 5.874% dearer against RISEx than usual: you sell high and buy low (spread +5.874% now, against zero (this spread has no 7-day history yet)): +$587 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4315	0.0100	pay 0.0013% / 1h	10m 46s	—	—	5x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	10m 46s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +5.874%Rate

Funding earned: −$14
Price spread: +5.874% → 0.000%: $587.4
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $567.38
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: RISEx: no order-book sample; Injective: 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 RISEx no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

RISEx and Injective: 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	−0.0176%	1h	0.4316	+0.038%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4315	+0.001%	$7K	—	150x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+5.874%	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4324	+0.223%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4316	+0.045%	$345K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4321	+0.157%	$764K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4321	+0.160%	$62.9M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	+0.149%	$68.1M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4324	+0.219%	$17.3M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4324	+0.207%	$71K	$80K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDClong	+0.0100%	1h	0.4315	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4316	+0.033%	$13.0M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4321	+0.149%	$44.0M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.126%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4323	+0.196%	$24.7M	$36.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4318	+0.080%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	+0.124%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4316	+0.032%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4314	−0.024%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4320	+0.126%	$403K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4319	+0.103%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4317	+0.056%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4315	+0.010%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4315	+0.010%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4318	+0.080%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.358%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4319	+0.103%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4319	+0.102%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4318	+0.079%	$357K	$817K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4319	+0.091%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4316	+0.038%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4318	+0.080%	$213K	$731K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4325	+0.244%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4318	+0.080%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0388%	1h	0.4324	+0.207%	$36.5M	$27.3M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0445%	1h	0.4319	+0.103%	$18K	$351K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4317	+0.054%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4316	+0.042%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1711%	1h	0.4318	+0.090%	$242K	$155K	5x	as long as short