Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.002%

Price spread now: Paradex against Deribit+0.036%7-day average — · you sell dearer than you buy

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

Long on Deribit 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

The price spread pays, funding is against you. Paradex is 0.036% dearer against Deribit than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4404	0.0204	pay 0.0025% / 1h	19m 25s	$23K	$349K	25x
Short	Paradex ONDO-USD-PERP	0.4406	0.0103	get 0.0103% / 8h	6h 19m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$21.23
Price spread: +0.036% → 0.000%: $3.6
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$28.62
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 49 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 Deribit live order book, 49 min ago	4.35 bp	9.0 bp −$9	doesn't fit	doesn't fit	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 38 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	0.4403	−0.013%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4402	−0.036%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	+0.022%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.724%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4406	+0.045%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4407	+0.068%	$386K	$858K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4406	+0.051%	$672K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4407	+0.068%	$63.9M	$231.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4407	+0.068%	$69.8M	$125.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4409	+0.114%	$17.0M	$75.5M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4418	+0.320%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4405	+0.017%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4404	0.000%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4407	+0.068%	$45.6M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4405	+0.023%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4408	+0.091%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4407	+0.068%	—	$762K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.265%	$769K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4417	+0.304%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	+0.330%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4418	+0.318%	$136K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4409	+0.114%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4404	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4405	+0.023%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4414	+0.227%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0103%	8h	0.4406	+0.036%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4405	+0.030%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4406	+0.057%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0129%	1h	0.4409	+0.123%	$201K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0204%	1h	0.4404	long leg	$23K	$349K	25x
Hyperliquid ONDO	+0.0284%	1h	0.4409	+0.114%	$38.9M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.409%	$284K	$745K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.481%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	+0.132%	$363	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4402	−0.049%	$486K	—	100x	as long as short
Phemex ONDOUSDT	+0.0557%	4h	0.4404	0.000%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0776%	1h	0.4415	+0.248%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4410	+0.140%	$2K	—	20x	as long as short