Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0261%/8h= −28.6% APRpaid last 24h +0.054%

Price spread now: Kraken Futures against Bitget+0.028%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.028%, 7d avg +0.065%

Together, before fees+0.341%+$34 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 0.038% cheaper against Bitget than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.065%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.331%, 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	Bitget ONDOUSDT	0.4350	0.0100	pay 0.0050% / 4h	3h 22m	$24.9M	$39.6M	50x
Short	Kraken Futures PF_ONDOUSD	0.4351	−0.0161	pay 0.0020% / 1h	22m 40s	$2.6M	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$54.79
Price spread: +0.028% → +0.065%: −$3.75
Slippage, 4 orders: −$37.61
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$118.15
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.30 bp	9.9 bp −$10	13.7 bp −$137	81.9 bp −$8,188	doesn't fit
Sell Kraken Futures live order book, 1 min ago	8.04 bp	19.2 bp −$19	27.3 bp −$273	407.0 bp −$40.7K	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	−0.0161%	1h	0.4351	+0.028%	$2.6M	$7.7M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	+0.043%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.011%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4354	+0.085%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4353	+0.069%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4353	+0.069%	$359K	$841K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4351	+0.013%	$62.8M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4345	−0.115%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4348	−0.046%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	+0.306%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4352	+0.050%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4348	−0.046%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4349	−0.023%	$43.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4352	+0.046%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDTlong	+0.0100%	4h	0.4350	long leg	$24.9M	$39.6M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4350	0.000%	—	$759K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	+0.083%	$183K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	+0.315%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	+0.434%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4364	+0.312%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4368	+0.414%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4353	+0.064%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4354	+0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4354	+0.092%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4360	+0.230%	$129K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	+0.138%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4348	−0.053%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4351	+0.013%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	+0.119%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0160%	4h	0.4351	+0.023%	$785K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4354	+0.090%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0195%	1h	0.4352	+0.055%	$37.4M	$24.4M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0210%	1h	0.4354	+0.092%	$18K	$362K	25x	as long as short
dYdX ONDO-USD	+0.0216%	1h	0.4349	−0.028%	$246K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	+0.414%	$248K	$725K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4368	+0.407%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.161%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4352	+0.035%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4353	+0.067%	$2K	—	20x	as long as short