Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.055%

Price spread now: Paradex against 01 Exchange−0.066%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 Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.066% 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	0.4357	0.0160	pay 0.0020% / 1h	3m 13s	$359	$2K	10x
Short	Paradex ONDO-USD-PERP	0.4354	0.0100	get 0.0100% / 8h	2h 03m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$12.57
Price spread: −0.066% → 0.000%: −$6.64
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$30.21
Costs to cover: 0.110%
Break-even: never at this rate

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

01 Exchange and Paradex: 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	−0.0240%	1h	0.4355	−0.042%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	−0.117%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0009%	1h	0.4357	−0.005%	$245K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.848%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4360	+0.064%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4356	−0.024%	$348K	$895K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4361	+0.087%	$36.8M	$27.1M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4359	+0.045%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4357	−0.006%	$63.4M	$238.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4354	−0.064%	$68.0M	$126.5M	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	0.4356	−0.018%	$17.3M	$74.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4357	−0.002%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4354	−0.071%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4355	−0.041%	$12.3M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4356	−0.018%	$43.4M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4354	−0.064%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4356	−0.018%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4356	−0.018%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4356	−0.009%	$181K	$992K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4365	+0.182%	$647K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4364	+0.161%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4362	+0.119%	$407K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4361	+0.096%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4356	−0.016%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4354	−0.064%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4356	−0.018%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4356	−0.018%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4368	+0.257%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	−0.018%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0100%	8h	0.4354	−0.066%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4354	−0.066%	$393K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4357	+0.005%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSDlong	+0.0160%	1h	0.4357	long leg	$359	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4366	+0.211%	$217K	$756K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4367	+0.227%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4360	+0.073%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4355	−0.041%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0202%	1h	0.4352	−0.110%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4354	−0.055%	$2K	—	20x	as long as short