Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0010%/8h= +1.0% APRpaid last 24h +0.161%

Price spread now: Lighter against Paradex+0.230%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.230% dearer against Paradex than usual: you sell high and buy low: +$23 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	Paradex ONDO-USD-PERP	0.4368	0.0102	pay 0.0102% / 8h	4h 39m	$6K	—	10x
Short	Lighter ONDO	0.4379	0.0112	get 0.0014% / 1h	39m 23s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.230%Rate

Funding earned: $2.01
Price spread: +0.230% → 0.000%: $23
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $21
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 12 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 Lighter live order book, 12 min ago	8.12 bp	12.8 bp −$13	23.3 bp −$233	doesn't fit	doesn't fit

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	0.4369	+0.010%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4370	+0.036%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.568%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4365	−0.079%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4369	+0.013%	$369K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4375	+0.141%	$37.5M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4371	+0.063%	$63.0M	$229.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4368	−0.010%	$69.0M	$124.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4366	−0.056%	$17.0M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4384	+0.363%	$72K	$84K	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	0.4368	−0.015%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4370	+0.035%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4372	+0.081%	$45.7M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4372	+0.081%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4373	+0.104%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4372	+0.081%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4371	+0.051%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	+0.005%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.212%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.162%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4372	+0.081%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4372	+0.083%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4380	+0.264%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4372	+0.081%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4383	+0.333%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4370	+0.035%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0102%	8h	0.4368	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4367	−0.030%	$396K	$794K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4377	+0.196%	$38K	$13K	3x	as long as short
Lighter ONDOshort	+0.0112%	1h	0.4379	+0.230%	$1.1M	$2.4M	10x
Aster ONDOUSDT	+0.0215%	4h	0.4373	+0.104%	$742K	$2.4M	20x	as long as short
dYdX ONDO-USD	+0.0217%	1h	0.4373	+0.104%	$247K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4370	+0.031%	$360	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.585%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	+0.196%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.116%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4367	−0.032%	$519K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0665%	1h	0.4377	+0.196%	$23K	$346K	25x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4372	+0.092%	$2K	—	20x	as long as short