Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.050%

Price spread now: KuCoin against 01 Exchange−0.127%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.127% cheaper against 01 Exchange than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4341	0.0280	pay 0.0035% / 1h	36m 53s	$357	$2K	10x
Short	KuCoin ONDOUSDTM	0.4336	0.0100	get 0.0050% / 4h	3h 36m	$12.2M	$10.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$37.8
Price spread: −0.127% → 0.000%: −$12.67
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$69.47
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; KuCoin: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	2.31 bp	15.4 bp −$15	38.2 bp −$382	doesn't fit	doesn't fit

01 Exchange: 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	0.4340	−0.025%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4340	−0.035%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4339	−0.060%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.217%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4344	+0.064%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	−0.023%	$346K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	−0.104%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.165%	$63.3M	$233.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4334	−0.173%	$68.3M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	−0.219%	$17.3M	$71.8M	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	0.4337	−0.099%	$71K	$79K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4340	−0.043%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.173%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.196%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4336	−0.127%	$12.2M	$10.5M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4335	−0.150%	$24.9M	$36.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4334	−0.173%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4339	−0.069%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4327	−0.339%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	−0.226%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	−0.219%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.242%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4339	−0.058%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4339	−0.058%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4340	−0.035%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4340	−0.035%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4349	+0.173%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4341	−0.012%	$4.3M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4340	−0.035%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	−0.171%	$363K	$821K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	−0.012%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	−0.035%	$214K	$720K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4340	−0.032%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSDlong	+0.0280%	1h	0.4341	long leg	$357	$2K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4341	−0.012%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0583% / S −0.0208%	1h	0.4339	−0.069%	$502K	—	100x	as long as short
Hyperliquid ONDO	+0.0616%	1h	0.4345	+0.072%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4340	−0.029%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2846%	1h	0.4337	−0.094%	$243K	$155K	5x	as long as short