Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against HTX−0.370%51s7-day average — · you buy dearer than you sell

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

Long on HTX Short on gTrade (Gains Network)

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.370% cheaper against HTX than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4333	0.0100	pay 0.0050% / 4h	59m 29s	$129K	$395K	50x
Short	gTrade (Gains Network) ONDO/USD	0.4317	L +0.0003% / S −0.0011%	get 0.0001% / 1h	59m 29s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.370%Rate

Funding earned: −$18.76
Price spread: −0.370% → 0.000%: −$37
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$77.75
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 44 min ago; gTrade (Gains Network): 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 HTX live order book, 44 min ago	13.82 bp	37.8 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	−0.0146%	1h	0.4322	−0.260%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4317	−0.370%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.423%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4322	−0.263%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4317	−0.369%	$346K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	−0.346%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4319	−0.330%	$62.4M	$233.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4317	−0.369%	$67.8M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4320	−0.300%	$17.2M	$71.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4312	−0.485%	$71K	$80K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4317	−0.362%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4318	−0.346%	$12.7M	$15.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4318	−0.346%	$43.3M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4317	−0.369%	$11.9M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4318	−0.346%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4317	−0.369%	—	$770K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4324	−0.201%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4318	−0.352%	$728K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	−0.286%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	−0.237%	$407K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	−0.254%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	−0.348%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	−0.369%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4321	−0.277%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4324	−0.208%	$449	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4333	long leg	$129K	$395K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4325	−0.185%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4317	−0.364%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4317	−0.374%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4326	−0.173%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4325	−0.185%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4318	−0.344%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	−0.115%	$214K	$731K	50x	as long as short
dYdX ONDO-USD	+0.0308%	1h	0.4315	−0.404%	$242K	$156K	5x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	−0.182%	$35K	$220K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4322	−0.254%	$3.1M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0486%	1h	0.4321	−0.278%	$36.3M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4317	−0.372%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4317	−0.358%	$2K	—	20x	as long as short