Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: RISEx against Deribit−0.045%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. RISEx is 0.045% cheaper against Deribit than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4334	0	get 0.0000% / 1h	46m 28s	$18K	$362K	25x
Short	RISEx ONDO/USDC	0.4332	0.0100	get 0.0013% / 1h	46m 28s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.045%Rate

Funding earned: $21
Price spread: −0.045% → 0.000%: −$4.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $3.49
Costs to cover: 0.130%
Break-even: 5.8 days

Slippage unknown: Deribit: live order book, 2 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 Deribit live order book, 2 min ago	5.76 bp	11.6 bp −$12	doesn't fit	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	−0.0241%	1h	0.4331	−0.068%	$2.6M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUALlong	0.0000%	1h	0.4334	long leg	$18K	$362K	25x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	−0.049%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.399%	$888	$216K	5.5x	as long as short
dYdX ONDO-USD	+0.0038%	1h	0.4333	−0.034%	$248K	$133K	5x	as long as short
01 Exchange ONDOUSD	+0.0056%	1h	0.4333	−0.030%	$357	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4337	+0.069%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4332	−0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4335	+0.012%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4334	−0.012%	$36.4M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4336	+0.048%	$777K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.011%	$62.4M	$234.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4331	−0.069%	$67.4M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	−0.046%	$17.1M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.042%	$71K	$82K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4332	−0.045%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4333	−0.023%	$12.1M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.023%	$43.5M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4333	−0.023%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4334	0.000%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4333	−0.023%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	−0.016%	$176K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	+0.109%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4339	+0.121%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	+0.168%	$400K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4338	+0.092%	$134K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4333	−0.028%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4333	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	−0.023%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.231%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4333	−0.023%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.027%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4332	−0.044%	$389K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4335	+0.023%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.277%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4342	+0.192%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4334	0.000%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4331	−0.065%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4333	−0.029%	$2K	—	20x	as long as short