Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.054%

Price spread now: OKX against 01 Exchange−0.075%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 OKX

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—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.075% cheaper against 01 Exchange than usual: you would sell low and buy high (−$7 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	0.4401	0.0352	pay 0.0044% / 1h	16m 28s	$362	$2K	10x
Short	OKX ONDO-USDT-SWAP	0.4398	0.0100	get 0.0050% / 4h	2h 16m	$17.0M	$75.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$52.92
Price spread: −0.075% → 0.000%: −$7.5
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$77.42
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; OKX: 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 OKX live order book, 2 min ago	1.13 bp	11.8 bp −$12	21.4 bp −$214	296.4 bp −$29.6K	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 38 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	−0.0363%	1h	0.4402	+0.015%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	−0.047%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4396	−0.121%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.788%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4396	−0.120%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4399	−0.047%	$385K	$861K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4397	−0.093%	$671K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4398	−0.066%	$63.7M	$231.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4397	−0.098%	$69.7M	$125.4M	50x	as long as short
OKX ONDO-USDT-SWAPshort	+0.0100%	4h	0.4398	−0.075%	$17.0M	$75.2M	50x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4413	+0.257%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4396	−0.109%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4397	−0.098%	$11.6M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4399	−0.052%	$46.2M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4397	−0.098%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4401	−0.007%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4398	−0.075%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.327%	$769K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4408	+0.142%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4412	+0.253%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	+0.084%	$135K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4401	−0.016%	$92K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4404	+0.061%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4404	+0.061%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4409	+0.175%	$129K	$506K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4394	−0.174%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4394	−0.157%	$398K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4405	+0.084%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0142%	1h	0.4403	+0.036%	$201K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0268%	1h	0.4405	+0.075%	$38.8M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.470%	$284K	$744K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.543%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSDlong	+0.0352%	1h	0.4401	long leg	$362	$2K	10x
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4403	+0.039%	$23K	$349K	25x	as long as short
Phemex ONDOUSDT	+0.0451%	4h	0.4403	+0.039%	$4.2M	$7.4M	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4401	−0.012%	$485K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4403	+0.048%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4402	+0.020%	$2K	—	20x	as long as short