Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1059%/8h= −116.0% APRpaid last 24h −0.310%

Price spread now: Binance against Reya+0.182%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Binance

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 airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Binance is 0.182% dearer against Reya than usual: you sell high and buy low (spread +0.182% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4323	0.1159	pay 0.0145% / 1h	51m 52s	$2K	—	20x
Short	Binance ONDOUSDT	0.4331	0.0100	get 0.0050% / 4h	51m 52s	$62.7M	$233.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.182%Rate

Funding earned: −$222.47
Price spread: +0.182% → 0.000%: $18.22
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$220.25
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Binance: live order book, 7 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	1.16 bp	6.5 bp −$7	12.7 bp −$127	43.9 bp −$4,388	353.2 bp −$176.6K

Reya: 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	−0.0176%	1h	0.4324	+0.016%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4322	−0.023%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.668%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4329	+0.128%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4322	−0.017%	$347K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4330	+0.171%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4331	+0.182%	$62.7M	$233.4M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4329	+0.140%	$68.0M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4331	+0.186%	$17.3M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4312	−0.249%	$71K	$80K	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	0.4320	−0.074%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4325	+0.047%	$12.7M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4330	+0.163%	$43.7M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4330	+0.163%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4329	+0.140%	$24.7M	$36.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4330	+0.163%	—	$769K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	+0.160%	$177K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4309	−0.330%	$727K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4320	−0.057%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4326	+0.079%	$398K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4320	−0.069%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	+0.003%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4322	−0.022%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4324	+0.024%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4325	+0.047%	$450	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4328	+0.117%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4327	+0.093%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4319	−0.099%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4329	+0.148%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4326	+0.076%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4325	+0.047%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4322	−0.027%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4328	+0.117%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0305%	1h	0.4333	+0.225%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4320	−0.069%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4320	−0.069%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4323	−0.007%	$494K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1159%	1h	0.4323	long leg	$2K	—	20x
dYdX ONDO-USD	+0.1594%	1h	0.4319	−0.088%	$242K	$156K	5x	as long as short