Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Paradex+0.108%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 Polymarket Perps

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.108% dearer against Paradex than usual: you sell high and buy low, +$11 on $10k if it 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	0.4572	0.0101	pay 0.0101% / 8h	46m 03s	$7K	$9	10x
Short	Polymarket Perps ONDO-USD	0.4577	0.0100	get 0.0013% / 1h	46m 03s	$69K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.108%Rate

Funding earned: −$0.16
Price spread: +0.108% → 0.000%: $10.81
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$1.35
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Polymarket Perps: live order book, 2 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 Polymarket Perps live order book, 2 min ago	2.52 bp	8.0 bp −$8	8.3 bp −$83	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
Kraken Futures PF_ONDOUSD	−0.0798%	1h	0.4571	−0.009%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.084%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4574	+0.044%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4574	+0.047%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4575	+0.069%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4573	+0.014%	$721K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4570	−0.033%	$68.4M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4569	−0.062%	$74.1M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4567	−0.106%	$17.8M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4566	−0.135%	$74K	$89K	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	0.4571	−0.010%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4568	−0.084%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4572	+0.003%	$49.7M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4575	+0.069%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4569	−0.062%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4571	−0.019%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.330%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4575	+0.059%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4575	+0.060%	$433K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.353%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4577	+0.108%	$69K	$1.2M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4573	+0.025%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4573	+0.025%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4579	+0.156%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4574	+0.047%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0101%	8h	0.4572	long leg	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4572	+0.007%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4576	+0.080%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0187%	1h	0.4576	+0.091%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0191%	1h	0.4572	+0.005%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.145%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.594%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4566	−0.128%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0343%	1h	0.4574	+0.056%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0464%	1h	0.4579	+0.154%	$377	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4574	+0.041%	$546K	—	100x	as long as short
Lighter ONDO	+0.1000%	1h	0.4580	+0.172%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4575	+0.071%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.7043%	1h	0.4570	−0.049%	$259K	$130K	5x	as long as short