Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against KuCoin+0.219%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1391.387% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.294%−$29 · spread now +0.219%, 7d avg +0.127%

Together, before fees−0.288%−$29 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: HTX is 0.092% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4563	0.0100	pay 0.0050% / 4h	13m 00s	$14.1M	$11.1M	50x
Short	HTX ONDO-USDT	0.4573	0.0100	get 0.0050% / 4h	13m 00s	$134K	$504K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.219%Rate

Funding earned: $0
Price spread: +0.219% → +0.127%: $9.19
Slippage, 4 orders: −$114.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$129.51
Costs to cover: 1.387%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; HTX: live order book, 65 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, 6 min ago	1.10 bp	19.6 bp −$20	44.2 bp −$442	doesn't fit	doesn't fit
Sell HTX live order book, 65 min ago	27.12 bp	62.2 bp −$62	doesn't fit	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	−0.0800%	1h	0.4561	−0.035%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.110%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4564	+0.022%	$35K	$366K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4563	+0.005%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4562	−0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4561	−0.033%	$438K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4566	+0.070%	$40.4M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4566	+0.056%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4569	+0.126%	$68.3M	$226.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4569	+0.131%	$74.2M	$120.6M	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	0.4568	+0.110%	$17.7M	$80.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4567	+0.077%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4563	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4567	+0.088%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4565	+0.044%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4563	long leg	$14.1M	$11.1M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4564	+0.022%	$25.8M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4567	+0.088%	—	$739K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4565	+0.039%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	+0.106%	$810K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4569	+0.126%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4569	+0.131%	$422K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4569	+0.131%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4566	+0.075%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4563	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4563	0.000%	$474	$14K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4573	+0.219%	$134K	$504K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4563	0.000%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4562	−0.026%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4562	−0.024%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4565	+0.033%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.053%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4565	+0.053%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.285%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	+0.044%	$3.2M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4562	−0.014%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4572	+0.199%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4562	−0.020%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3009%	1h	0.4564	+0.029%	$258K	$132K	5x	as long as short