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Price arb /

ONDO

all ONDO markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)+0.093%
7d average—if it closes, per $10,000$9funding while held, a day+$2.90
Long on gTrade (Gains Network)Short on Phemex
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ONDO/USD0.4399L +0.0003% / S −0.0007%pay 0.0000% / 1h35m 56s$7K—150x
ShortPhemex ONDOUSDT0.44030.0100get 0.0050% / 4h35m 56s$4.9M$5.0M50x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$9.32
Funding while held
$2.9
Slippage, 4 orders
no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders
−$10
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$9.78
Spread needed to break even
0.220%
Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0097%
Per $10,000 a day
+$2.90
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy gTrade (Gains Network) no order-book sample—————
Sell Phemex live order book, 4 min ago12.47 bp40.1 bp −$4054.7 bp −$547doesn't fitdoesn'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 price on every exchange

against the cheapest. Click to use as the short leg.
Reya0.4395cheapest
gTrade (Gains Network)0.4399+0.079%
ApeX Omni0.4399+0.081%GMX0.4399+0.083%Polymarket Perps0.4399+0.086%RISEx0.4399+0.092%Nado0.4400+0.093%dYdX0.4400+0.104%Orderly0.4400+0.104%01 Exchange0.4400+0.115%Paradex0.4401+0.116%Aevo0.4401+0.119%KuCoin0.4402+0.149%SoDEX0.4402+0.149%BloFin0.4402+0.149%Phoenix0.4403+0.163%SunX0.4403+0.172%Deribit0.4403+0.172%
Phemex0.4403+0.172%
Backpack0.4405+0.225%Extended0.4405+0.227%Bybit0.4406+0.240%Gate0.4406+0.240%Aster0.4406+0.245%OKX0.4407+0.263%Bitget0.4407+0.263%Hyperliquid0.4409+0.297%MEXC0.4409+0.309%BingX0.4409+0.309%HTX0.4409+0.309%Kraken Futures0.4409+0.314%Lighter0.4410+0.320%Binance0.4411+0.354%edgeX0.4413+0.393%Coinbase International0.4413+0.400%Variational Omni0.4416+0.470%Injective0.4419+0.536%Ondo Perps0.4432+0.823%

ONDO on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Reya ONDORUSDPERP−0.079%+0.1125%1h$2K—20xas long as short
gTrade (Gains Network) ONDO/USDlong0.000%L +0.0003% / S −0.0007%1h$7K—150x
ApeX Omni ONDOUSDT+0.002%+0.0100%1h$180K$358K50xas long as short
GMX ONDO/USD [ETH-USDC]+0.005%L +0.0563% / S −0.0190%1h$501K—100xas long as short
Polymarket Perps ONDO-USD+0.007%+0.0100%1h$78K$979K10xas long as short
RISEx ONDO/USDC+0.013%+0.0100%1h——5xas long as short
Nado ONDO-PERP+0.014%+0.0100%1h$429K$565K10xas long as short
dYdX ONDO-USD+0.025%+0.8529%1h$244K$101K5xas long as short
Orderly PERP_ONDO_USDC+0.025%+0.0093%4h$24K$6K10xas long as short
01 Exchange ONDOUSD+0.036%+0.0360%1h$362$1K10xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Paradex ONDO-USD-PERP+0.037%+0.0100%8h$6K$910xas long as short
Aevo ONDO-PERP+0.040%+0.0104%1h$35K—3xas long as short
KuCoin ONDOUSDTM+0.070%+0.0100%4h$13.7M$10.4M50xas long as short
SoDEX ONDO-USD+0.070%+0.0100%1h$458$9K10xas long as short
BloFin ONDO-USDT+0.070%+0.0340%4h$3.4M$3.3M75xas long as short
Phoenix ONDO+0.084%+0.0036%1h$27K$224K10xas long as short
SunX ONDO-USDT+0.093%+0.0100%4h—$1.4M20xas long as short
Deribit ONDO_USDC-PERPETUAL+0.093%0.0000%1h$35K$238K25xas long as short
Phemex ONDOUSDTshort+0.093%+0.0100%4h$4.9M$5.0M50x
Backpack ONDO_USDC_PERP+0.145%+0.0100%1h$276K$790K15xas long as short
Extended ONDO-USD+0.148%+0.0104%1h$372K$1.1M25xas long as short
Bybit ONDOUSDT+0.161%+0.0100%4h$69.3M$118.1M50xas long as short
Gate ONDO_USDT+0.161%−0.0018%4h$11.6M$19.9M50xas long as short
Aster ONDOUSDT+0.166%+0.0100%4h$709K$1.7M20xas long as short
OKX ONDO-USDT-SWAP+0.184%+0.0100%4h$18.0M$81.5M50xas long as short
Bitget ONDOUSDT+0.184%+0.0100%4h$24.8M$44.0M50xas long as short
Hyperliquid ONDO+0.218%+0.0279%1h$40.8M$28.4M10xas long as short
MEXC ONDO_USDT+0.230%+0.0100%4h$46.2M$45.4M200xas long as short
BingX ONDO-USDC+0.230%+0.0100%4h—$764K—as long as short
HTX ONDO-USDT+0.230%+0.0100%4h$128K$569K50xas long as short
Kraken Futures PF_ONDOUSD+0.235%+0.0835%1h$3.5M$4.9M50xas long as short
Lighter ONDO+0.241%+0.0432%1h$1.2M$2.0M10xas long as short
Binance ONDOUSDT+0.275%+0.0100%4h$66.4M$225.8M75xas long as short
edgeX ONDOUSDC+0.314%+0.0100%4h$5K$317K20xas long as short
Coinbase International ONDO-PERP-INTX+0.321%+0.0448%1h$341K$812K50xas long as short
Variational Omni ONDO+0.391%+0.0100%4h$923K$2.0M—as long as short
Injective ONDO/USDC PERP+0.457%+0.0015%1h$995$134K5.5xas long as short
Ondo Perps ONDO-USD.P+0.743%+0.0100%1h$73K$93K10xas long as short