Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.055%

Price spread now: 01 Exchange against Phemex+0.293%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and 01 Exchange is 0.293% dearer against Phemex than usual: you sell high and buy low: +$29 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	Phemex ONDOUSDT	0.4539	0.0100	pay 0.0050% / 4h	3h 02m	$4.4M	$7.1M	50x
Short	01 Exchange ONDOUSD	0.4552	0.0280	get 0.0035% / 1h	2m 40s	$375	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Phemex. 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 PhemexbpFee 01 ExchangebpOrdersPrice spread, now +0.293%Rate

Funding earned: $37.8
Price spread: +0.293% → 0.000%: $29.3
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $48.1
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Phemex: live order book, 6 min ago; 01 Exchange: 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 Phemex live order book, 6 min ago	5.44 bp	20.9 bp −$21	25.2 bp −$252	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0880%	1h	0.4539	−0.002%	$2.7M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	−0.105%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4540	+0.022%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4540	+0.022%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.639%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4540	+0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4548	+0.204%	$427K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4536	−0.071%	$714K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4533	−0.141%	$67.9M	$222.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4528	−0.242%	$72.9M	$119.5M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4527	−0.264%	$17.4M	$76.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	+0.106%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	−0.302%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4527	−0.264%	$11.9M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4531	−0.176%	$48.2M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4535	−0.088%	$14.0M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4528	−0.242%	$25.7M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4528	−0.242%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4540	+0.013%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+0.808%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+1.258%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+0.881%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	+0.793%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4546	+0.148%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4540	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4542	+0.066%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4550	+0.242%	$134K	$492K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4539	long leg	$4.4M	$7.1M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	−0.228%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4525	−0.298%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4543	+0.099%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+1.027%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSDshort	+0.0280%	1h	0.4552	+0.293%	$375	$2K	10x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4536	−0.066%	$297K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.022%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0376%	1h	0.4538	−0.020%	$40.4M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4540	+0.023%	$543K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4543	+0.079%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4544	+0.109%	$2K	—	20x	as long as short