Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Extended+0.271%54s7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.369% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.271%, 7d avg +0.081%

Together, before fees+0.249%+ Points / potential airdropExtended: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.190% dearer against Extended than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.081%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4380	0.0104	pay 0.0013% / 1h	4m 23s	$396K	$793K	25x
Short	BloFin ONDO-USDT	0.4392	0.0340	get 0.0170% / 4h	1h 04m	$3.1M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.271%Rate

Funding earned: $49.56
Price spread: +0.271% → +0.081%: $18.98
Slippage, 4 orders: −$19.88
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $31.66
Costs to cover: 0.369%
Break-even: 2.5 days

Slippage from Extended: live order book, 59 min ago; BloFin: live order book, 4 min ago.

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 Extended live order book, 59 min ago	4.54 bp	7.0 bp −$7	16.2 bp −$162	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	3.41 bp	10.8 bp −$11	13.7 bp −$137	28.7 bp −$2,868	82.8 bp −$41.4K

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
dYdX ONDO-USD	+0.0001%	1h	0.4389	+0.205%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4380	−0.003%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.289%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0062%	1h	0.4381	+0.015%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4380	−0.003%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4380	−0.015%	$369K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4383	+0.065%	$63.7M	$226.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4380	−0.003%	$69.5M	$123.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4382	+0.042%	$17.0M	$71.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4383	+0.072%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4387	+0.150%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4380	−0.003%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4382	+0.042%	$47.4M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4384	+0.088%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4381	+0.020%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4381	+0.020%	—	$763K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	+0.126%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4393	+0.295%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.499%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4400	+0.453%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4385	+0.102%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4383	+0.065%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4383	+0.065%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4390	+0.225%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4386	+0.134%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4387	+0.165%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4380	long leg	$396K	$793K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4383	+0.069%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0125%	1h	0.4383	+0.062%	$38.0M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0166%	1h	0.4392	+0.275%	$189K	$981K	15x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4387	+0.165%	$733K	$2.3M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0207%	1h	0.4382	+0.042%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4394	+0.325%	$35K	$225K	10x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4392	+0.271%	$3.1M	$3.0M	75x
01 Exchange ONDOUSD	+0.0352%	1h	0.4386	+0.129%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4386	+0.134%	$279K	$714K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4380	−0.008%	$483K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4397	+0.396%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4381	+0.024%	$2K	—	20x	as long as short