Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)+0.047%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on SunX

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.047% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread 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	gTrade (Gains Network) ONDO/USD	0.4317	L +0.0003% / S −0.0011%	pay 0.0000% / 1h	58m 34s	$7K	—	150x
Short	SunX ONDO-USDT	0.4319	0.0100	get 0.0050% / 4h	58m 34s	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $20.28
Price spread: +0.047% → 0.000%: $4.7
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $6.98
Costs to cover: 0.180%
Break-even: 4.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	47.37 bp	70.2 bp −$70	doesn't fit	doesn't fit	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	−0.0176%	1h	0.4318	+0.017%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4319	+0.047%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0011%	1h	0.4317	long leg	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.815%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4321	+0.103%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4316	−0.011%	$346K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	+0.024%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4317	+0.001%	$62.4M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4315	−0.046%	$67.7M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4318	+0.024%	$17.2M	$71.9M	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	0.4312	−0.115%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4316	−0.026%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4316	−0.022%	$12.7M	$15.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4317	+0.001%	$43.5M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4316	−0.022%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4316	−0.022%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4318	+0.024%	—	$767K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4319	+0.054%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4318	+0.018%	$728K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.084%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	+0.133%	$407K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	+0.117%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	+0.022%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	+0.001%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4319	+0.047%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4320	+0.070%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4325	+0.186%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	+0.070%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4315	−0.039%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4315	−0.050%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4320	+0.069%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4318	+0.031%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4320	+0.070%	$214K	$729K	50x	as long as short
Hyperliquid ONDO	+0.0312%	1h	0.4320	+0.077%	$36.3M	$27.2M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	+0.188%	$35K	$220K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.093%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4317	−0.003%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4316	−0.018%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1665%	1h	0.4315	−0.035%	$242K	$156K	5x	as long as short