Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Gate+0.042%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.252%+$25 · spread now +0.042%, 7d avg +0.104%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.062% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4573	0.0100	pay 0.0050% / 4h	1h 26m	$11.9M	$18.3M	50x
Short	Polymarket Perps ONDO-USD	0.4575	0.0100	get 0.0013% / 1h	26m 25s	$72K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → +0.104%: −$6.21
Slippage, 4 orders: −$32.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$61.87
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 Gate live order book, 2 min ago	1.10 bp	18.0 bp −$18	34.3 bp −$343	42.0 bp −$4,198	71.6 bp −$35.8K
Sell Polymarket Perps live order book, 2 min ago	4.83 bp	8.8 bp −$9	8.9 bp −$89	doesn't fit	doesn't fit

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	−0.0352%	1h	0.4573	+0.005%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4573	+0.005%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4573	0.000%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4573	−0.005%	$431K	$700K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4575	+0.048%	$733K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4577	+0.078%	$67.6M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4575	+0.044%	$74.5M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4575	+0.044%	$17.8M	$81.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4584	+0.236%	$74K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	−0.155%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDTlong	+0.0100%	4h	0.4573	long leg	$11.9M	$18.3M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4575	+0.044%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4572	−0.022%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4575	+0.044%	$25.9M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4574	+0.022%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4576	+0.059%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.745%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4554	−0.412%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4558	−0.324%	$427K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4556	−0.372%	$163K	$330K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4575	+0.042%	$72K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4572	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4575	+0.044%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.087%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4574	+0.022%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	−0.161%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4566	−0.143%	$409K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4580	+0.144%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.405%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.109%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4575	+0.044%	$300K	$866K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	0.000%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4573	+0.007%	$376	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4575	+0.044%	$26K	$396K	25x	as long as short
Hyperliquid ONDO	+0.0418%	1h	0.4577	+0.079%	$41.0M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0624% / S −0.0204%	1h	0.4573	+0.001%	$570K	—	100x	as long as short
Lighter ONDO	+0.0680%	1h	0.4577	+0.079%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4575	+0.041%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3181%	1h	0.4570	−0.061%	$259K	$129K	5x	as long as short