Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.072%

Price spread now: Paradex against BloFin−0.068%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin 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 −$7 a day on $10k at the current rate, and Paradex is 0.068% cheaper against BloFin 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	BloFin ONDO-USDT	0.4553	0.0340	pay 0.0170% / 4h	40m 08s	$3.3M	$3.2M	75x
Short	Paradex ONDO-USD-PERP	0.4550	0.0101	get 0.0101% / 8h	40m 08s	$7K	$9	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$50.26
Price spread: −0.068% → 0.000%: −$6.79
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$73.05
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; 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 BloFin live order book, 3 min ago	1.10 bp	7.5 bp −$8	14.0 bp −$140	38.3 bp −$3,827	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	−0.0802%	1h	0.4549	−0.081%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.329%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4550	−0.061%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4549	−0.088%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4550	−0.066%	$430K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4553	+0.010%	$723K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4550	−0.066%	$68.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4549	−0.088%	$73.7M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4549	−0.088%	$17.7M	$80.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.204%	$74K	$89K	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	0.4549	−0.087%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4549	−0.088%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4549	−0.088%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4551	−0.044%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4550	−0.066%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4550	−0.066%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4559	+0.130%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4565	+0.271%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4562	+0.198%	$421K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4564	+0.242%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4552	−0.013%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4550	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4551	−0.044%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4560	+0.154%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4552	−0.022%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0101%	8h	0.4550	−0.068%	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4550	−0.072%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4552	−0.022%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0136%	1h	0.4552	−0.029%	$230K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.044%	$36K	$436K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.253%	$38K	$257K	10x	as long as short
Hyperliquid ONDO	+0.0302%	1h	0.4553	+0.004%	$40.3M	$26.9M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4574	+0.461%	$299K	$855K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4553	long leg	$3.3M	$3.2M	75x
01 Exchange ONDOUSD	+0.0408%	1h	0.4553	−0.009%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4550	−0.077%	$543K	—	100x	as long as short
Lighter ONDO	+0.0888%	1h	0.4560	+0.152%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4550	−0.068%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5662%	1h	0.4554	+0.026%	$258K	$131K	5x	as long as short