Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: OKX against gTrade (Gains Network)−0.043%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. OKX is 0.043% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 35 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	gTrade (Gains Network) ONDO/USD	0.4353	L +0.0003% / S −0.0011%	pay 0.0000% / 1h	15m 57s	$7K	—	150x
Short	OKX ONDO-USDT-SWAP	0.4351	0.0100	get 0.0050% / 4h	3h 15m	$17.0M	$72.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OKXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $20.28
Price spread: −0.043% → 0.000%: −$4.27
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$3.99
Costs to cover: 0.200%
Break-even: 8.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 3 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	1.15 bp	9.0 bp −$9	20.4 bp −$204	151.8 bp −$15.2K	doesn't fit

gTrade (Gains Network): 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	−0.0161%	1h	0.4352	−0.021%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0011%	1h	0.4353	long leg	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.942%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4358	+0.113%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4353	+0.003%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4356	+0.078%	$359K	$840K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4354	+0.016%	$62.8M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4351	−0.043%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAPshort	+0.0100%	4h	0.4351	−0.043%	$17.0M	$72.2M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4345	−0.187%	$72K	$83K	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	0.4354	+0.031%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4352	−0.020%	$11.8M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4351	−0.043%	$43.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4350	−0.066%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4351	−0.043%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4353	+0.003%	—	$760K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4353	−0.004%	$183K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	−0.049%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4357	+0.089%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	+0.003%	$403K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4349	−0.089%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4355	+0.042%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4356	+0.072%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4355	+0.049%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4363	+0.233%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	+0.072%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4356	+0.064%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4349	−0.082%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	+0.061%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0151%	4h	0.4355	+0.059%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4355	+0.056%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0177%	1h	0.4355	+0.047%	$37.3M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4359	+0.141%	$246K	$724K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4353	+0.012%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.095%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4355	+0.049%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4351	−0.034%	$484K	—	100x	as long as short
dYdX ONDO-USD	+0.0713%	1h	0.4352	−0.029%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4354	+0.032%	$2K	—	20x	as long as short