Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h —

Price spread now: RISEx against Coinbase International−0.298%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—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 −$5 a day on $10k at the current rate, and RISEx is 0.298% cheaper against Coinbase International than usual: you would sell low and buy high (−$30 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	Coinbase International ONDO-PERP-INTX	0.4346	0.0272	pay 0.0034% / 1h	47m 39s	$218K	$767K	50x
Short	RISEx ONDO/USDC	0.4333	0.0100	get 0.0013% / 1h	47m 39s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Coinbase International. 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 Coinbase InternationalbpFee RISExbpOrdersPrice spread, now −0.298%Rate

Funding earned: −$36.12
Price spread: −0.298% → 0.000%: −$29.81
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$81.93
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 66 min ago; RISEx: 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 Coinbase International live order book, 66 min ago	5.67 bp	17.3 bp −$17	43.8 bp −$438	doesn't fit	doesn't fit
Sell RISEx no order-book sample	—	—	—	—	—

RISEx: 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	−0.0240%	1h	0.4339	−0.163%	$2.6M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4341	−0.108%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.108%	$888	$216K	5.5x	as long as short
dYdX ONDO-USD	+0.0041%	1h	0.4337	−0.218%	$248K	$133K	5x	as long as short
01 Exchange ONDOUSD	+0.0056%	1h	0.4334	−0.285%	$357	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4341	−0.122%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.115%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4336	−0.219%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4340	−0.143%	$36.4M	$25.7M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	−0.211%	$777K	$2.6M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.266%	$62.4M	$234.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4332	−0.322%	$67.4M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4334	−0.276%	$17.1M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.318%	$72K	$82K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4333	−0.298%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4333	−0.299%	$12.1M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4334	−0.276%	$43.4M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4333	−0.299%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4335	−0.253%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4336	−0.230%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4340	−0.133%	$176K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.167%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4339	−0.156%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	−0.109%	$400K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4338	−0.184%	$134K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4343	−0.071%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4344	−0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4341	−0.115%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4350	+0.092%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4341	−0.115%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.292%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4333	−0.303%	$389K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4343	−0.069%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4344	−0.046%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0272%	1h	0.4346	long leg	$218K	$767K	50x
Phoenix ONDO	+0.0332%	1h	0.4346	+0.007%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	−0.161%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4341	−0.106%	$488K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4341	−0.104%	$2K	—	20x	as long as short