Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against HTX−0.107%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1051.049% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.239%+$24 · spread now −0.107%, 7d avg −0.085%

Together, before fees+0.225%+$22 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 0.022% cheaper against HTX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4471	0.0100	pay 0.0050% / 4h	2h 47m	$131K	$500K	50x
Short	Polymarket Perps ONDO-USD	0.4466	0.0100	get 0.0013% / 1h	47m 57s	$77K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0
Price spread: −0.107% → −0.085%: −$2.2
Slippage, 4 orders: −$84.88
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$107.07
Costs to cover: 1.049%
Break-even: never at this rate

Slippage from HTX: live order book, 20 min ago; Polymarket Perps: live order book, just now.

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, 20 min ago	35.74 bp	45.9 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, just now	3.80 bp	7.8 bp −$8	9.1 bp −$91	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	−0.0358%	1h	0.4462	−0.194%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4470	−0.015%	$253K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4460	−0.249%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.170%	$888	$216K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0082%	1h	0.4469	−0.045%	$165K	$356K	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4461	−0.224%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4464	−0.168%	$407K	$780K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4467	−0.089%	$692K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4465	−0.134%	$65.8M	$227.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4463	−0.179%	$71.9M	$122.4M	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	0.4465	−0.134%	$17.2M	$76.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4464	−0.152%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4462	−0.200%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4463	−0.179%	$11.7M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4463	−0.179%	$45.6M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4465	−0.134%	$13.5M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4465	−0.134%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4466	−0.112%	—	$754K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4465	−0.127%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4468	−0.071%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4457	−0.317%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4467	−0.089%	$420K	$965K	10x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4466	−0.107%	$77K	$1.3M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4461	−0.224%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4463	−0.179%	$464	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4471	long leg	$131K	$500K	50x
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4466	−0.112%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4463	−0.171%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4466	−0.123%	$39K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0198%	1h	0.4462	−0.201%	$33K	$339K	25x	as long as short
Hyperliquid ONDO	+0.0231%	1h	0.4470	−0.013%	$39.5M	$25.4M	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4466	−0.112%	$368	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4460	−0.246%	$290K	$798K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4476	+0.101%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	0.000%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0186%	1h	0.4458	−0.280%	$533K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4470	−0.022%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.0633%	4h	0.4467	−0.089%	$4.3M	$7.2M	50x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4461	−0.223%	$2K	—	20x	as long as short