Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +1.617%

Price spread now: dYdX against HTX−0.093%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$448as in the Price arb table

costs, in and out, $10k−$4544.541% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.710%+$271 on $10k

Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.093%, 7d avg −0.157%

Together, before fees+2.831%+$283 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.064% dearer against HTX than usual: you sell high and buy low (spread −0.093% now, against its 7-day average of −0.157%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days. Mind the row above: over the last 7 days funding on this pair paid +2.710%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4605	0.0100	pay 0.0050% / 4h	3h 27m	$135K	$492K	50x
Short	dYdX ONDO-USD	0.4601	0	get 0.0000% / 1h	27m 17s	$260K	$131K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$21
Price spread: −0.093% → −0.157%: $6.41
Slippage, 4 orders: −$432.06
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$468.64
Costs to cover: 4.541%
Break-even: never at this rate

Slippage from HTX: live order book, 46 min ago; dYdX: live order book, 47 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 HTX live order book, 46 min ago	8.75 bp	49.6 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 47 min ago	91.11 bp	293.6 bp −$294	295.5 bp −$2,955	607.8 bp −$60.8K	1660.0 bp −$830.0K

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	−0.0870%	1h	0.4593	−0.258%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4601	−0.093%	$260K	$131K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4592	−0.280%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.803%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4592	−0.282%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4595	−0.206%	$431K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4596	−0.195%	$726K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4598	−0.161%	$68.9M	$223.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4593	−0.261%	$74.2M	$119.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4593	−0.261%	$17.6M	$78.8M	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	0.4613	+0.178%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4597	−0.166%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4592	−0.282%	$12.0M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4593	−0.261%	$50.1M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4600	−0.109%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4594	−0.239%	$26.1M	$39.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4593	−0.261%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4609	+0.087%	$231K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4597	−0.178%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4600	−0.100%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	+0.009%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4601	−0.087%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4601	−0.091%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4593	−0.261%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	−0.239%	$478	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4605	long leg	$135K	$492K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4597	−0.174%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	−0.144%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4594	−0.239%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4596	−0.190%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0185%	1h	0.4595	−0.217%	$34K	$353K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4603	−0.052%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4603	−0.037%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.565%	$300K	$827K	50x	as long as short
Hyperliquid ONDO	+0.0308%	1h	0.4604	−0.015%	$41.0M	$25.5M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4596	−0.195%	$3.3M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4592	−0.280%	$549K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4605	−0.009%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4591	−0.304%	$2K	—	20x	as long as short