Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against KuCoin+0.051%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.051%, 7d avg +0.018%

Together, before fees−0.025%−$3 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 0.033% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4303	0.0100	pay 0.0050% / 4h	1h 03m	$13.0M	$9.2M	50x
Short	Polymarket Perps ONDO-USD	0.4305	0.0100	get 0.0013% / 1h	3m 48s	$55K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → +0.018%: $3.35
Slippage, 4 orders: −$32.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$49.27
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Polymarket Perps: live order book, 3 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, 3 min ago	1.16 bp	18.7 bp −$19	38.5 bp −$385	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.32 bp	6.5 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit

ONDO on 39 exchanges

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	−0.0326%	1h	0.4306	+0.078%	$2.5M	$6.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4304	+0.023%	$21K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4304	+0.014%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.158%	$888	$215K	5.5x	as long as short
Bybit ONDOUSDT	+0.0042%	4h	0.4301	−0.046%	$66.6M	$113.1M	50x	as long as short
01 Exchange ONDOUSD	+0.0064%	1h	0.4305	+0.046%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4307	+0.095%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4303	0.000%	$23K	$7K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4303	+0.012%	$332K	$816K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4306	+0.060%	$36.3M	$26.3M	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4305	+0.038%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4302	−0.020%	$62.1M	$213.6M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4302	−0.023%	$17.2M	$65.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4306	+0.070%	$69K	$67K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4303	−0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4302	−0.023%	$14.0M	$13.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4303	0.000%	$43.9M	$41.4M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4303	long leg	$13.0M	$9.2M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4303	0.000%	$24.9M	$31.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4302	−0.023%	—	$782K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4304	+0.028%	$181K	$976K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4306	+0.078%	$616K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4302	−0.030%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4302	−0.019%	$405K	$2.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4300	−0.070%	$86K	$350K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4305	+0.051%	$55K	$1.2M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4303	0.000%	—	$1.2M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4304	+0.023%	$447	$17K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4312	+0.209%	$106K	$444K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4305	+0.046%	$4.1M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4303	−0.007%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4301	−0.056%	$348K	$761K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4305	+0.058%	$37K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0166% / S +0.0191%	1h	0.4308	+0.118%	$328K	—	100x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4308	+0.119%	$35K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4305	+0.046%	$212K	$558K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4303	0.000%	$3.2M	$2.8M	75x	as long as short
Reya ONDORUSDPERP	+0.1168%	1h	0.4302	−0.016%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3743%	1h	0.4304	+0.020%	$246K	$160K	5x	as long as short