Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −1.394%

Price spread now: Orderly against dYdX+0.012%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4376	0.0269	pay 0.0034% / 1h	15m 31s	$248K	$129K	5x
Short	Orderly PERP_ONDO_USDC	0.4377	0.0100	get 0.0050% / 4h	15m 31s	$24K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now +0.012%Rate

Funding earned: −$35.5
Price spread: +0.012% → 0.000%: $1.21
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 44 min ago; Orderly: 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 dYdX live order book, 44 min ago	27.22 bp	34.2 bp −$34	94.8 bp −$948	148.1 bp −$14.8K	610.8 bp −$305.4K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4378	+0.026%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4377	+0.012%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.376%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4381	+0.097%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4377	+0.012%	$24K	$6K	10x
Nado ONDO-PERP	+0.0100%	1h	0.4380	+0.081%	$362K	$854K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4382	+0.129%	$37.7M	$24.8M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4380	+0.090%	$63.3M	$231.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4377	+0.012%	$67.6M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4378	+0.035%	$17.0M	$73.0M	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	0.4385	+0.200%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4379	+0.052%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4377	+0.012%	$11.5M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4377	+0.012%	$44.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4376	−0.011%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4378	+0.035%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4376	−0.011%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4377	+0.021%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4377	+0.006%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	+0.058%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	+0.103%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	−0.011%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4380	+0.085%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4379	+0.058%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4380	+0.081%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4386	+0.218%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4378	+0.035%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	+0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4377	+0.008%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	+0.115%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4380	+0.083%	$360	$2K	10x	as long as short
Aster ONDOUSDT	+0.0217%	4h	0.4378	+0.032%	$757K	$2.5M	20x	as long as short
dYdX ONDO-USDlong	+0.0269%	1h	0.4376	long leg	$248K	$129K	5x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4379	+0.058%	$271K	$727K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4383	+0.149%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4382	+0.136%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4381	+0.104%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4376	−0.005%	$520K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4380	+0.075%	$2K	—	20x	as long as short