Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against OKX+0.032%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days+0.215%+$22 · spread now +0.032%, 7d avg +0.064%

Together, before fees+0.254%+$25 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 0.032% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4340	0.0100	pay 0.0050% / 4h	1h 49m	$17.3M	$73.8M	50x
Short	Polymarket Perps ONDO-USD	0.4341	0.0100	get 0.0013% / 1h	49m 26s	$60K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.064%: −$3.21
Slippage, 4 orders: −$16.28
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$37.49
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 OKX live order book, 4 min ago	1.15 bp	9.9 bp −$10	18.5 bp −$185	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	1.96 bp	8.0 bp −$8	8.3 bp −$83	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	−0.0145%	1h	0.4350	+0.221%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4342	+0.053%	$244K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4339	−0.030%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.253%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4348	+0.175%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.138%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	+0.104%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4341	+0.013%	$63.1M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4339	−0.023%	$67.7M	$126.5M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4340	long leg	$17.3M	$73.8M	50x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4330	−0.235%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4341	+0.020%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4339	−0.023%	$12.4M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4339	−0.023%	$43.1M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4340	0.000%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4340	0.000%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4341	+0.023%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4351	+0.258%	$178K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4337	−0.074%	$642K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.294%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.069%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.300%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4341	+0.032%	$60K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	0.000%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4351	+0.253%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4351	+0.253%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4356	+0.369%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4351	+0.253%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4345	+0.106%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4340	+0.008%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4342	+0.046%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4343	+0.078%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4347	+0.161%	$215K	$729K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4349	+0.214%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.046%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0417%	1h	0.4343	+0.074%	$36.7M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4339	−0.031%	$488K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0670%	1h	0.4352	+0.276%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4340	−0.006%	$2K	—	20x	as long as short