Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1042%/8h= +114.0% APRpaid last 24h +0.307%

Price spread now: Reya against Gate−0.113%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.113% cheaper against Gate than usual: you would sell low and buy high (spread −0.113% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9 hours of funding at the current rate (+$31 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4563	0.0100	pay 0.0050% / 4h	1h 08m	$12.0M	$18.7M	50x
Short	Reya ONDORUSDPERP	0.4558	0.1142	get 0.0143% / 1h	8m 29s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.113%Rate

Funding earned: $218.72
Price spread: −0.113% → 0.000%: −$11.3
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $186.42
Costs to cover: 0.210%
Break-even: 1.0 days

Slippage unknown: Gate: live order book, 5 min ago; Reya: 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 Gate live order book, 5 min ago	2.19 bp	18.5 bp −$18	38.9 bp −$389	46.3 bp −$4,629	76.4 bp −$38.2K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0352%	1h	0.4573	+0.214%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4557	−0.129%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4570	+0.153%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.088%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4567	+0.086%	$729K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4562	−0.016%	$67.7M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4559	−0.088%	$73.8M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4556	−0.153%	$17.8M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.274%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4561	−0.051%	—	—	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	0.4563	long leg	$12.0M	$18.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4558	−0.110%	$49.2M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4561	−0.044%	$13.7M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4558	−0.110%	$25.8M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4564	+0.022%	—	$741K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4560	−0.068%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	−0.011%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	+0.115%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	+0.044%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4562	−0.028%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	+0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4574	+0.241%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	+0.285%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	+0.197%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	+0.060%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4563	−0.004%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	+0.262%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.500%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0143%	1h	0.4574	+0.245%	$231K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.110%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.701%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4575	+0.263%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0376%	1h	0.4562	−0.021%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4565	+0.033%	$376	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4573	+0.219%	$31K	$431K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4570	+0.153%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4578	+0.322%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1142%	1h	0.4558	−0.113%	$2K	—	20x
dYdX ONDO-USD	+0.5445%	1h	0.4570	+0.147%	$259K	$129K	5x	as long as short