Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h −0.025%

Price spread now: OKX against Kraken Futures+0.031%45s7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.528% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now +0.031%, 7d avg −0.077%

Together, before fees−0.243%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and OKX is 0.108% dearer against Kraken Futures than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.077%. Mind the row above: over the last 7 days funding on this pair cost −0.300%, so the current rate has only just turned in your favour. The two prices were read 45 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	Kraken Futures PF_ONDOUSD	0.4361	0.0019	pay 0.0002% / 1h	57m 33s	$2.5M	$7.4M	50x
Short	OKX ONDO-USDT-SWAP	0.4362	0.0100	get 0.0050% / 4h	2h 57m	$17.3M	$70.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Kraken Futures. 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 Kraken FuturesbpFee OKXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $16.95
Price spread: +0.031% → −0.077%: $10.77
Slippage, 4 orders: −$32.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.09
Costs to cover: 0.528%
Break-even: 17.4 days

Slippage from Kraken Futures: live order book, 1 min ago; OKX: live order book, 1 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 Kraken Futures live order book, 1 min ago	4.58 bp	16.1 bp −$16	24.7 bp −$247	114.4 bp −$11.4K	doesn't fit
Sell OKX live order book, 1 min ago	1.14 bp	9.2 bp −$9	19.1 bp −$191	180.9 bp −$18.1K	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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4365	+0.100%	$24K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	+0.416%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0019%	1h	0.4361	long leg	$2.5M	$7.4M	50x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.755%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4366	+0.114%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4362	+0.031%	$342K	$873K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4362	+0.026%	$36.7M	$27.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4362	+0.031%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4361	+0.005%	$63.7M	$228.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4359	−0.038%	$68.5M	$120.1M	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-SWAPshort	+0.0100%	4h	0.4362	+0.031%	$17.3M	$70.3M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4367	+0.148%	$72K	$78K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4360	−0.011%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4359	−0.038%	$13.6M	$14.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4359	−0.038%	$44.0M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4358	−0.061%	$13.1M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4363	+0.054%	$25.4M	$35.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4359	−0.038%	—	$779K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4359	−0.045%	$185K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4372	+0.253%	$776K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4373	+0.284%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	+0.398%	$403K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4380	+0.444%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4365	+0.100%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4363	+0.054%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4365	+0.100%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4362	+0.031%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4377	+0.375%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4360	−0.015%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4359	−0.031%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4358	−0.071%	$363K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4366	+0.134%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0136%	1h	0.4362	+0.038%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4363	+0.054%	$216K	$707K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4372	+0.251%	$35K	$217K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4378	+0.398%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4376	+0.356%	$506K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1164%	1h	0.4363	+0.051%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4264%	1h	0.4357	−0.080%	$249K	$160K	5x	as long as short