Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1065%/8h= +116.6% APRpaid last 24h +0.312%

Price spread now: Reya against KuCoin+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Reya is 0.047% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4337	0.0100	pay 0.0050% / 4h	2h 15m	$13.1M	$9.9M	50x
Short	Reya ONDORUSDPERP	0.4339	0.1165	get 0.0146% / 1h	15m 45s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.047%Rate

Funding earned: $223.65
Price spread: +0.047% → 0.000%: $4.68
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $210.33
Costs to cover: 0.180%
Break-even: 0.4 days

Slippage unknown: KuCoin: live order book, 6 min ago; Reya: no order-book sample. Net counts fees only.

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	1.15 bp	20.3 bp −$20	46.6 bp −$466	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4337	−0.007%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4336	−0.017%	$2.6M	$7.5M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.326%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4342	+0.120%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4334	−0.069%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4339	+0.046%	$338K	$864K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4339	+0.053%	$776K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4337	0.000%	$63.3M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4336	−0.023%	$68.5M	$118.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4337	0.000%	$17.3M	$68.8M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4331	−0.138%	$71K	$77K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4337	−0.011%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4337	0.000%	$13.7M	$14.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	0.000%	$46.2M	$41.6M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4337	long leg	$13.1M	$9.9M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4337	0.000%	$25.2M	$35.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4337	0.000%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	+0.023%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4333	−0.102%	$799K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4341	+0.086%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	+0.083%	$412K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4352	+0.346%	$134K	$320K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	+0.062%	$60K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4339	+0.046%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	−0.023%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4343	+0.138%	$106K	$489K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	0.000%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4336	−0.013%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0103%	1h	0.4340	+0.081%	$36.5M	$27.2M	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4337	+0.004%	$364K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4338	+0.012%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4339	+0.037%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4337	0.000%	$21K	$382K	25x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4343	+0.143%	$35K	$217K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4353	+0.369%	$214K	$632K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.046%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4336	−0.033%	$496K	—	100x	as long as short
Reya ONDORUSDPERPshort	+0.1165%	1h	0.4339	+0.047%	$2K	—	20x
dYdX ONDO-USD	+0.3034%	1h	0.4336	−0.015%	$248K	$160K	5x	as long as short