Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Paradex−0.104%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 gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.104% cheaper against Paradex than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4357	0.0101	pay 0.0101% / 8h	7h 21m	$6K	—	10x
Short	gTrade (Gains Network) ONDO/USD	0.4352	L +0.0003% / S −0.0011%	get 0.0001% / 1h	21m 23s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.104%Rate

Funding earned: −$19
Price spread: −0.104% → 0.000%: −$10.39
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$43.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; gTrade (Gains Network): 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 Paradex no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Paradex and gTrade (Gains Network): 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
Kraken Futures PF_ONDOUSD	−0.0175%	1h	0.4355	−0.047%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4352	−0.104%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.851%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4359	+0.054%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4360	+0.083%	$344K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4366	+0.215%	$767K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4365	+0.192%	$63.6M	$232.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4360	+0.077%	$68.1M	$121.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4365	+0.192%	$17.4M	$71.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4309	−1.096%	$71K	$79K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4354	−0.053%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4363	+0.146%	$13.4M	$15.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4363	+0.146%	$43.8M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4360	+0.077%	$12.3M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4362	+0.123%	$25.2M	$36.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4362	+0.123%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4358	+0.022%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4300	−1.308%	$676K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4343	−0.323%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4350	−0.159%	$403K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4345	−0.267%	$134K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4358	+0.040%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4363	+0.146%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4356	−0.015%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4356	−0.015%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4362	+0.123%	$132K	$373K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4353	−0.084%	$4.3M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0101%	8h	0.4357	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4358	+0.023%	$361K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4368	+0.249%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0209%	1h	0.4356	−0.015%	$28K	$360K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	−0.382%	$214K	$715K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4362	+0.127%	$359	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4351	−0.137%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4348	−0.199%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0475%	1h	0.4365	+0.194%	$36.7M	$27.7M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0583% / S −0.0208%	1h	0.4348	−0.194%	$503K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4362	+0.130%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3379%	1h	0.4355	−0.031%	$249K	$159K	5x	as long as short