Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.071%

Price spread now: Extended against BloFin−0.027%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.390%−$39 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.027%, 7d avg −0.073%

Together, before fees−0.409%+ Points / potential airdropExtended: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.046% dearer against BloFin than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.073%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4378	0.0340	pay 0.0170% / 4h	15m 04s	$3.1M	$3.0M	75x
Short	Extended ONDO-USD	0.4377	0.0104	get 0.0013% / 1h	15m 04s	$395K	$798K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$49.56
Price spread: −0.027% → −0.073%: $4.56
Slippage, 4 orders: −$23.69
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$85.69
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Extended: live order book, 43 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, 3 min ago	3.42 bp	15.5 bp −$15	19.4 bp −$194	44.1 bp −$4,412	doesn't fit
Sell Extended live order book, 43 min ago	4.57 bp	7.2 bp −$7	19.4 bp −$194	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4376	−0.049%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4375	−0.062%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.340%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4380	+0.050%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4377	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4380	+0.046%	$362K	$854K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4381	+0.069%	$37.7M	$24.8M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4378	−0.009%	$63.3M	$231.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4376	−0.046%	$67.6M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4378	0.000%	$17.0M	$73.0M	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	0.4385	+0.164%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4379	+0.017%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4376	−0.046%	$11.5M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4376	−0.046%	$44.3M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4376	−0.046%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4377	−0.023%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4376	−0.046%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4377	−0.032%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4377	−0.029%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	+0.023%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	+0.068%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	−0.046%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4380	+0.039%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4378	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4377	−0.023%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4386	+0.183%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4377	−0.023%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	−0.020%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4377	−0.027%	$395K	$798K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4380	+0.057%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4380	+0.048%	$360	$2K	10x	as long as short
Aster ONDOUSDT	+0.0217%	4h	0.4380	+0.042%	$757K	$2.5M	20x	as long as short
dYdX ONDO-USD	+0.0269%	1h	0.4376	−0.035%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4379	+0.023%	$271K	$727K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4378	long leg	$3.1M	$3.0M	75x
Phoenix ONDO	+0.0365%	1h	0.4382	+0.101%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0436%	1h	0.4379	+0.023%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4376	−0.042%	$520K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4377	−0.029%	$2K	—	20x	as long as short