Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Orderly against Extended+0.026%7-day average — · you sell dearer than you buy

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

Long on Extended 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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.026% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4306	0.0104	pay 0.0013% / 1h	30m 01s	$359K	$824K	25x
Short	Orderly PERP_ONDO_USDC	0.4307	0.0100	get 0.0050% / 4h	3h 30m	$23K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.026%Rate

Funding earned: −$0.84
Price spread: +0.026% → 0.000%: $2.58
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$9.26
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 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 Extended live order book, 3 min ago	3.47 bp	6.0 bp −$6	15.8 bp −$158	doesn't fit	doesn't fit
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
Kraken Futures PF_ONDOUSD	−0.0177%	1h	0.4310	+0.096%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4308	+0.049%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4307	+0.025%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.087%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4312	+0.140%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4307	+0.026%	$342K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4312	+0.136%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4311	+0.124%	$62.9M	$233.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4308	+0.049%	$67.7M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4310	+0.095%	$17.2M	$71.2M	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	0.4336	+0.704%	$71K	$79K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4306	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4308	+0.049%	$13.2M	$15.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4308	+0.049%	$43.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4308	+0.049%	$12.1M	$10.3M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4309	+0.072%	$24.8M	$36.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4309	+0.072%	—	$23.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4310	+0.088%	$178K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	+0.091%	$678K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4322	+0.380%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	+0.622%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	+0.258%	$134K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4307	+0.026%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4307	+0.026%	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4308	+0.049%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4311	+0.119%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4318	+0.281%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4308	+0.049%	$4.2M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4306	+0.007%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4306	long leg	$359K	$824K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4310	+0.104%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.792%	$214K	$719K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4309	+0.075%	$355	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4320	+0.337%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	+0.235%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0540%	1h	0.4311	+0.112%	$36.2M	$27.7M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0208%	1h	0.4307	+0.019%	$498K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4308	+0.043%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3570%	1h	0.4306	+0.010%	$246K	$159K	5x	as long as short