Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −1.392%

Price spread now: Paradex against dYdX+0.009%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 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 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	0.4352	0.0207	pay 0.0026% / 1h	38m 08s	$246K	$129K	5x
Short	Paradex ONDO-USD-PERP	0.4352	0.0102	get 0.0102% / 8h	4h 38m	$6K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$21.87
Price spread: +0.009% → 0.000%: $0.94
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$34.94
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 21 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 dYdX live order book, 21 min ago	27.22 bp	34.2 bp −$34	94.8 bp −$948	148.1 bp −$14.8K	610.8 bp −$305.4K
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 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	0.4357	+0.119%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4357	+0.122%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.968%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4358	+0.150%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4356	+0.097%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4361	+0.217%	$368K	$850K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4359	+0.170%	$37.4M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4356	+0.106%	$62.8M	$230.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4352	+0.005%	$67.6M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4355	+0.074%	$17.0M	$72.6M	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	0.4384	+0.747%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4356	+0.086%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4354	+0.051%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4356	+0.097%	$45.4M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4357	+0.120%	$12.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4357	+0.120%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4356	+0.097%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4357	+0.113%	$186K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	+0.388%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.595%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.546%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4372	+0.464%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4360	+0.182%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4359	+0.166%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4357	+0.120%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4368	+0.373%	$127K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4357	+0.120%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERPshort	+0.0102%	8h	0.4352	+0.009%	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4356	+0.101%	$396K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4362	+0.224%	$38K	$13K	3x	as long as short
dYdX ONDO-USDlong	+0.0207%	1h	0.4352	long leg	$246K	$129K	5x
Aster ONDOUSDT	+0.0213%	4h	0.4360	+0.197%	$740K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4358	+0.152%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.970%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	+0.327%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.499%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4360	+0.189%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0604% / S −0.0219%	1h	0.4357	+0.123%	$518K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4361	+0.211%	$2K	—	20x	as long as short