Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against HTX+0.130%7-day average −0.193% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)−0.122%−$12 · spread now +0.130%, 7d avg −0.193%

Together, before fees−0.112%+ Points / potential airdropExtended: Active · farm board−$11 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: Extended is 0.323% dearer against HTX than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.193%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4622	0.0100	pay 0.0050% / 4h	3h 35m	$136K	$497K	50x
Short	Extended ONDO-USD	0.4628	0.0104	get 0.0013% / 1h	35m 28s	$412K	$836K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.130%Rate

Funding earned: $0.84
Price spread: +0.130% → −0.193%: $32.31
Slippage, 4 orders: −$59.39
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$43.25
Costs to cover: 0.764%
Break-even: 367.4 days

Slippage from HTX: live order book, 38 min ago; Extended: live order book, 38 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, 38 min ago	8.75 bp	49.6 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 38 min ago	3.29 bp	6.2 bp −$6	16.1 bp −$161	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	−0.0865%	1h	0.4619	−0.062%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4625	+0.073%	$262K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4613	−0.192%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.168%	$888	$216K	5.5x	as long as short
Gate ONDO_USDT	+0.0094%	4h	0.4628	+0.130%	$12.1M	$16.6M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4612	−0.216%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	+0.108%	$434K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4633	+0.238%	$731K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4627	+0.108%	$69.3M	$225.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4626	+0.087%	$75.0M	$120.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4626	+0.087%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4622	−0.002%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4624	+0.039%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4629	+0.151%	$50.2M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4628	+0.130%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4627	+0.108%	$26.2M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4626	+0.087%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4630	+0.180%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	−0.156%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4577	−0.977%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4573	−1.053%	$423K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.346%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4631	+0.199%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4616	−0.130%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4616	−0.130%	$480	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4622	long leg	$136K	$497K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4622	0.000%	$4.6M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4628	+0.128%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4628	+0.130%	$412K	$836K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4616	−0.134%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4614	−0.173%	$34K	$363K	25x	as long as short
Hyperliquid ONDO	+0.0210%	1h	0.4637	+0.315%	$41.2M	$25.4M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	−0.950%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4631	+0.199%	$381	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4613	−0.195%	$299K	$825K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4606	−0.346%	$3.3M	$3.1M	75x	as long as short
Lighter ONDO	+0.0560%	1h	0.4636	+0.292%	$1.5M	$2.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4614	−0.176%	$551K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4627	+0.103%	$2K	—	20x	as long as short