Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.122%

Price spread now: Coinbase International against KuCoin+0.068%7-day average +0.208% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$840.836% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.750%+$75 on $10k

Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.068%, 7d avg +0.208%

Together, before fees+0.531%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.140% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.068% now, against its 7-day average of +0.208%). If the spread goes back, that is −$14 on $10k: about 43 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4416	0.0100	pay 0.0050% / 4h	1h 26m	$12.9M	$10.8M	50x
Short	Coinbase International ONDO-PERP-INTX	0.4419	0.0360	get 0.0045% / 1h	26m 46s	$284K	$705K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.068%Rate

Funding earned: $54.6
Price spread: +0.068% → +0.208%: −$13.98
Slippage, 4 orders: −$61.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$42.99
Costs to cover: 0.836%
Break-even: 12.5 days

Slippage from KuCoin: live order book, 2 min ago; Coinbase International: live order book, 37 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 KuCoin live order book, 2 min ago	1.13 bp	18.3 bp −$18	43.4 bp −$434	doesn't fit	doesn't fit
Sell Coinbase International live order book, 37 min ago	7.95 bp	16.8 bp −$17	62.1 bp −$621	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
dYdX ONDO-USD	+0.0001%	1h	0.4415	−0.020%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	−0.162%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.442%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4409	−0.170%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4409	−0.159%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4407	−0.192%	$373K	$836K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4418	+0.038%	$64.0M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4416	0.000%	$69.9M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4418	+0.045%	$17.1M	$71.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4415	−0.029%	$72K	$87K	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	0.4420	+0.100%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4411	−0.113%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4417	+0.023%	$46.8M	$41.5M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4416	long leg	$12.9M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4419	+0.068%	$25.2M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4417	+0.023%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4427	+0.240%	$717K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4424	+0.185%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4418	+0.045%	$414K	$992K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4427	+0.249%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	−0.202%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4406	−0.226%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4410	−0.136%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4415	−0.023%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4410	−0.136%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4413	−0.078%	$398K	$790K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4410	−0.125%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4417	+0.013%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0159%	4h	0.4415	−0.015%	$711K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0181%	1h	0.4417	+0.032%	$38.3M	$24.5M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0201%	1h	0.4412	−0.079%	$192K	$980K	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4409	−0.159%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4433	+0.385%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4412	−0.091%	$3.1M	$3.1M	75x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0360%	1h	0.4419	+0.068%	$284K	$705K	50x
01 Exchange ONDOUSD	+0.0368%	1h	0.4406	−0.220%	$363	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4407	−0.193%	$486K	—	100x	as long as short
Lighter ONDO	+0.0840%	1h	0.4423	+0.163%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4408	−0.178%	$2K	—	20x	as long as short