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Price arb /

ONDO

all ONDO markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)−0.089%
7d average—if it closes, per $10,000$9funding while held, a day+$0.98
Long on PhemexShort on Orderly
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ONDOUSDT0.44990.0060pay 0.0030% / 4h3h 46m$5.0M$5.3M50x
ShortOrderly PERP_ONDO_USDC0.44950.0093get 0.0046% / 4h3h 46m$25K$8K10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$8.89
Funding while held
$0.98
Slippage, 4 orders
no order book: not counted
Fee Phemex: 6 bp × 2 orders
−$12
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$25.92
Spread needed to break even
0.180%
Slippage unknown: Phemex: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0033%
Per $10,000 a day
+$0.98
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 4 min ago15.60 bp32.9 bp −$3344.0 bp −$440doesn't fitdoesn't fit
Sell Orderly no order-book sample—————
Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.4445cheapestVariational Omni0.4458+0.290%Phoenix0.4491+1.046%edgeX0.4494+1.107%
Orderly0.4495+1.125%
Aevo0.4496+1.140%SunX0.4496+1.147%BloFin0.4496+1.147%ApeX Omni0.4497+1.170%Deribit0.4499+1.215%
Phemex0.4499+1.215%
SoDEX0.4504+1.327%Backpack0.4505+1.339%Extended0.4505+1.346%Nado0.4506+1.372%Coinbase International0.4506+1.372%RISEx0.4506+1.381%BingX0.4507+1.395%Paradex0.4507+1.395%Bybit0.4508+1.417%Gate0.4508+1.417%dYdX0.4509+1.439%Polymarket Perps0.4509+1.444%Kraken Futures0.4510+1.464%Binance0.4510+1.471%Ondo Perps0.4511+1.485%01 Exchange0.4512+1.510%Aster0.4512+1.517%Reya0.4512+1.518%MEXC0.4513+1.530%GMX0.4514+1.546%KuCoin0.4514+1.552%Bitget0.4514+1.552%HTX0.4514+1.552%gTrade (Gains Network)0.4514+1.555%OKX0.4515+1.575%Lighter0.4517+1.615%Hyperliquid0.4518+1.640%

ONDO on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective ONDO/USDC PERP−1.200%+0.1162%1h$1K$85K5.5xas long as short
Variational Omni ONDO−0.914%+0.0088%4h$928K$2.0M—as long as short
Phoenix ONDO−0.167%+0.0162%1h$28K$244K10xas long as short
edgeX ONDOUSDC−0.107%+0.0100%4h$5K$319K20xas long as short
Orderly PERP_ONDO_USDCshort−0.089%+0.0093%4h$25K$8K10x
Aevo ONDO-PERP−0.074%+0.0104%1h$35K—3xas long as short
SunX ONDO-USDT−0.067%+0.0100%4h—$1.4M20xas long as short
BloFin ONDO-USDT−0.067%+0.0340%4h$3.3M$3.5M75xas long as short
ApeX Omni ONDOUSDT−0.044%+0.0100%1h$182K$387K50xas long as short
Deribit ONDO_USDC-PERPETUAL0.000%+0.0195%1h$16K$302K25xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Phemex ONDOUSDTlong0.000%+0.0060%4h$5.0M$5.3M50x
SoDEX ONDO-USD+0.111%+0.0100%1h$468$15K10xas long as short
Backpack ONDO_USDC_PERP+0.122%+0.0100%1h$229K$860K15xas long as short
Extended ONDO-USD+0.129%+0.0104%1h$381K$1.1M25xas long as short
Nado ONDO-PERP+0.156%+0.0100%1h$483K$612K10xas long as short
Coinbase International ONDO-PERP-INTX+0.156%+0.0464%1h$356K$844K50xas long as short
RISEx ONDO/USDC+0.164%+0.0100%1h——5xas long as short
BingX ONDO-USDT+0.178%+0.0100%4h—$23.5M—as long as short
Paradex ONDO-USD-PERP+0.178%+0.0100%8h$6K$910xas long as short
Bybit ONDOUSDT+0.200%−0.0920%4h$70.7M$118.1M50xas long as short
Gate ONDO_USDT+0.200%−0.0330%4h$11.8M$18.8M50xas long as short
dYdX ONDO-USD+0.221%+0.2470%1h$250K$105K5xas long as short
Polymarket Perps ONDO-USD+0.227%+0.0100%1h$87K$1.0M10xas long as short
Kraken Futures PF_ONDOUSD+0.246%+0.1023%1h$3.6M$5.1M50xas long as short
Binance ONDOUSDT+0.253%+0.0100%4h$68.0M$228.8M75xas long as short
Ondo Perps ONDO-USD.P+0.267%+0.0100%1h$75K$95K10xas long as short
01 Exchange ONDOUSD+0.291%+0.0232%1h$371$1K10xas long as short
Aster ONDOUSDT+0.298%+0.0100%4h$754K$1.8M20xas long as short
Reya ONDORUSDPERP+0.299%+0.1127%1h$2K—20xas long as short
MEXC ONDO_USDT+0.311%+0.0100%4h$49.5M$46.3M200xas long as short
GMX ONDO/USD [ETH-USDC]+0.327%L +0.0569% / S −0.0189%1h$513K—100xas long as short
KuCoin ONDOUSDTM+0.333%+0.0100%4h$13.8M$10.4M50xas long as short
Bitget ONDOUSDT+0.333%+0.0100%4h$25.5M$44.2M50xas long as short
HTX ONDO-USDT+0.333%+0.0100%4h$132K$481K50xas long as short
gTrade (Gains Network) ONDO/USD+0.336%L +0.0003% / S −0.0010%1h$10K—150xas long as short
OKX ONDO-USDT-SWAP+0.356%+0.0100%4h$18.5M$83.8M50xas long as short
Lighter ONDO+0.396%+0.0488%1h$1.2M$2.0M10xas long as short
Hyperliquid ONDO+0.420%+0.0194%1h$41.1M$28.1M10xas long as short