Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h −0.069%

Price spread now: Deribit against BloFin−0.022%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.432%−$43 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.022%, 7d avg −0.017%

Together, before fees−0.406%−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4596	0.0340	pay 0.0170% / 4h	3h 26m	$3.3M	$3.0M	75x
Short	Deribit ONDO_USDC-PERPETUAL	0.4595	0.0185	get 0.0023% / 1h	26m 59s	$34K	$353K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$32.55
Price spread: −0.022% → −0.017%: −$0.52
Slippage, 4 orders: −$29.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$81.43
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Deribit: live order book, 47 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 BloFin live order book, 6 min ago	2.17 bp	8.2 bp −$8	13.5 bp −$135	48.7 bp −$4,870	doesn't fit
Sell Deribit live order book, 47 min ago	6.57 bp	14.5 bp −$14	doesn't fit	doesn't fit	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_ONDOUSD	−0.0870%	1h	0.4593	−0.063%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4601	+0.102%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4592	−0.084%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.609%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4592	−0.087%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4595	−0.011%	$431K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4597	+0.021%	$726K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4595	−0.030%	$68.9M	$223.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4595	−0.022%	$74.3M	$119.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4597	+0.022%	$17.6M	$78.8M	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	0.4613	+0.374%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4597	+0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4593	−0.065%	$12.0M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4593	−0.065%	$50.1M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4595	−0.022%	$14.2M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4595	−0.022%	$26.1M	$39.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4594	−0.044%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4598	+0.035%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4597	+0.017%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4600	+0.096%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	+0.205%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4601	+0.109%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4601	+0.104%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4593	−0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	−0.044%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4605	+0.196%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4597	+0.022%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	+0.052%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4593	−0.065%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4596	+0.005%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0185%	1h	0.4595	−0.022%	$34K	$353K	25x
Phoenix ONDO	+0.0244%	1h	0.4603	+0.144%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4603	+0.159%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.762%	$300K	$827K	50x	as long as short
Hyperliquid ONDO	+0.0309%	1h	0.4600	+0.091%	$40.9M	$25.6M	10x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4596	long leg	$3.3M	$3.0M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4592	−0.085%	$549K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4605	+0.187%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4591	−0.108%	$2K	—	20x	as long as short