Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.057%

Price spread now: Orderly against 01 Exchange−0.262%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 Orderly

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 −$5 a day on $10k at the current rate, and Orderly is 0.262% cheaper against 01 Exchange than usual: you would sell low and buy high (−$26 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	0.4587	0.0280	pay 0.0035% / 1h	3m 52s	$378	$2K	10x
Short	Orderly PERP_ONDO_USDC	0.4575	0.0100	get 0.0050% / 4h	3h 03m	$25K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.262%Rate

Funding earned: −$37.85
Price spread: −0.262% → 0.000%: −$26.16
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$77.01
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Orderly: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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	−0.0874%	1h	0.4570	−0.360%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4584	−0.057%	$259K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4572	−0.327%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4577	−0.216%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.414%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4575	−0.262%	$25K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4582	−0.109%	$430K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4566	−0.455%	$719K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4555	−0.696%	$68.2M	$221.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4553	−0.741%	$73.3M	$119.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4554	−0.719%	$17.5M	$76.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4577	−0.214%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4581	−0.127%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4557	−0.654%	$12.0M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4558	−0.632%	$48.8M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4564	−0.501%	$14.2M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4561	−0.567%	$25.9M	$38.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4555	−0.698%	—	$744K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	−0.247%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+0.198%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.311%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.371%	$172K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4582	−0.118%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4577	−0.218%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4572	−0.327%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4585	−0.044%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4569	−0.392%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4589	+0.044%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4561	−0.577%	$415K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	−0.273%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0108%	1h	0.4567	−0.434%	$229K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	−0.031%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSDlong	+0.0280%	1h	0.4587	long leg	$378	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4596	+0.196%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4580	−0.153%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0383%	1h	0.4571	−0.353%	$40.7M	$24.8M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4576	−0.237%	$546K	—	100x	as long as short
Lighter ONDO	+0.0696%	1h	0.4581	−0.124%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4578	−0.198%	$2K	—	20x	as long as short