Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +1.392%

Price spread now: dYdX against Paradex−0.009%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on dYdX

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 airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4352	0.0102	pay 0.0102% / 8h	4h 38m	$6K	—	10x
Short	dYdX ONDO-USD	0.4352	0.0207	get 0.0026% / 1h	38m 22s	$246K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Paradex. 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 ParadexbpFee dYdXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $21.87
Price spread: −0.009% → 0.000%: −$0.94
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: $6.94
Costs to cover: 0.140%
Break-even: 4.8 days

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 21 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell dYdX live order book, 21 min ago	27.22 bp	55.0 bp −$55	174.6 bp −$1,746	253.4 bp −$25.3K	871.7 bp −$435.8K

Paradex: 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 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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4357	+0.109%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4357	+0.113%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.959%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4370	+0.409%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4356	+0.087%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4361	+0.208%	$368K	$850K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4361	+0.200%	$37.4M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4360	+0.179%	$62.9M	$230.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4356	+0.087%	$67.7M	$125.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4359	+0.156%	$17.0M	$72.7M	50x	as long as short

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	0.4384	+0.738%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4356	+0.077%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4358	+0.133%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4360	+0.179%	$45.5M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4360	+0.179%	$12.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4359	+0.156%	$25.0M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4358	+0.133%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4368	+0.359%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	+0.379%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.586%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.537%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4372	+0.455%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4360	+0.172%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4359	+0.156%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4357	+0.110%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4378	+0.593%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4369	+0.386%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4352	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4356	+0.091%	$396K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4362	+0.214%	$38K	$13K	3x	as long as short
dYdX ONDO-USDshort	+0.0207%	1h	0.4352	−0.009%	$246K	$129K	5x
Aster ONDOUSDT	+0.0213%	4h	0.4356	+0.077%	$739K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4358	+0.143%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.961%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	+0.317%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.490%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4360	+0.179%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0604% / S −0.0219%	1h	0.4357	+0.114%	$518K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4361	+0.202%	$2K	—	20x	as long as short