Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h +0.054%

Price spread now: Kraken Futures against Binance−0.084%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.326%+$33 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.084%, 7d avg +0.050%

Together, before fees+0.440%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.134% cheaper against Binance than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.050%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.326%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4391	0.0100	pay 0.0050% / 4h	3h 47m	$63.5M	$231.0M	75x
Short	Kraken Futures PF_ONDOUSD	0.4388	−0.0160	pay 0.0020% / 1h	47m 59s	$2.6M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$54.51
Price spread: −0.084% → +0.050%: −$13.42
Slippage, 4 orders: −$31.18
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$119.11
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Kraken Futures: live order book, 1 min ago.

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 Binance live order book, 10 min ago	1.14 bp	9.5 bp −$9	14.1 bp −$141	47.1 bp −$4,711	doesn't fit
Sell Kraken Futures live order book, 1 min ago	6.83 bp	18.2 bp −$18	26.9 bp −$269	494.1 bp −$49.4K	doesn't fit

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_ONDOUSDshort	−0.0160%	1h	0.4388	−0.084%	$2.6M	$7.8M	50x
dYdX ONDO-USD	0.0000%	1h	0.4388	−0.071%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4389	−0.059%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.024%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4394	+0.059%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4389	−0.053%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4392	+0.016%	$363K	$847K	10x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4391	long leg	$63.5M	$231.0M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4389	−0.053%	$68.1M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4392	+0.016%	$17.2M	$73.3M	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	0.4408	+0.382%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4390	−0.024%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4389	−0.053%	$11.7M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4389	−0.053%	$44.0M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4389	−0.053%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4390	−0.030%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4390	−0.030%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4390	−0.021%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4404	+0.283%	$719K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4407	+0.364%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4413	+0.494%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4409	+0.403%	$136K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	+0.048%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4391	−0.007%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	−0.053%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4404	+0.289%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4389	−0.053%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4391	−0.003%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4389	−0.063%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4391	−0.007%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4391	−0.005%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0220%	4h	0.4390	−0.021%	$781K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4408	+0.380%	$272K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0289%	1h	0.4393	+0.045%	$37.8M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4398	+0.152%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.061%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4391	−0.007%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4386	−0.121%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4391	−0.002%	$2K	—	20x	as long as short