Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: SoDEX against BloFin−1.655%536s7-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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SoDEX is 1.655% cheaper against BloFin than usual: you would sell low and buy high (−$166 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 536 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4471	0.0340	pay 0.0170% / 4h	2h 39m	$3.2M	$3.0M	75x
Short	SoDEX ONDO-USD	0.4397	0.0100	get 0.0013% / 1h	39m 27s	$457	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −1.655%Rate

Funding earned: −$50.4
Price spread: −1.655% → 0.000%: −$165.51
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$235.91
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 14 min ago; SoDEX: 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, 14 min ago	1.12 bp	11.6 bp −$12	15.1 bp −$151	39.8 bp −$3,977	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0363%	1h	0.4399	−1.600%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4396	−1.675%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4388	−1.856%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.170%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4392	−1.767%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4410	−1.353%	$392K	$848K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4397	−1.647%	$684K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4396	−1.677%	$64.7M	$231.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4406	−1.454%	$70.1M	$125.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4411	−1.342%	$17.0M	$76.1M	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	0.4395	−1.693%	$72K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−1.743%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	−1.700%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4400	−1.588%	$43.4M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4395	−1.700%	$13.1M	$11.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4412	−1.320%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4398	−1.633%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4397	−1.653%	$197K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4401	−1.570%	$782K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4437	−0.759%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	−1.543%	$406K	$962K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4434	−0.828%	$164K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4408	−1.405%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4401	−1.566%	—	$1.4M	20x	as long as short
SoDEX ONDO-USDshort	+0.0100%	1h	0.4397	−1.655%	$457	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4405	−1.476%	$128K	$514K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4396	−1.668%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4396	−1.678%	$396K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4398	−1.642%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4393	−1.745%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0259%	1h	0.4414	−1.268%	$38.9M	$25.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0328%	1h	0.4397	−1.655%	$362	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4382	−1.991%	$281K	$785K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	−1.020%	$35K	$231K	10x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4471	long leg	$3.2M	$3.0M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4387	−1.882%	$484K	—	100x	as long as short
Lighter ONDO	+0.0768%	1h	0.4406	−1.461%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.1021%	4h	0.4407	−1.431%	$4.2M	$7.3M	50x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4412	−1.313%	$2K	—	20x	as long as short