Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0809%/8h= −88.6% APRpaid last 24h −0.235%

Price spread now: BloFin against Reya+0.088%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 BloFin

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. BloFin is 0.088% dearer against Reya than usual: you sell high and buy low (spread +0.088% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4408	0.1149	pay 0.0144% / 1h	27m 18s	$2K	—	20x
Short	BloFin ONDO-USDT	0.4412	0.0340	get 0.0170% / 4h	1h 27m	$3.1M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$169.99
Price spread: +0.088% → 0.000%: $8.8
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$179.19
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	3.39 bp	9.4 bp −$9	16.8 bp −$168	43.7 bp −$4,369	128.7 bp −$64.4K

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
dYdX ONDO-USD	+0.0002%	1h	0.4407	−0.024%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	+0.017%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.627%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4409	+0.009%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4409	+0.020%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4407	−0.014%	$373K	$836K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	+0.054%	$63.9M	$225.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4409	+0.020%	$69.8M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4412	+0.088%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4422	+0.308%	$72K	$87K	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	0.4405	−0.072%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4408	−0.003%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	+0.043%	$46.8M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4406	−0.048%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4411	+0.065%	$25.2M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4410	+0.043%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4427	+0.419%	$717K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4424	+0.364%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4418	+0.224%	$414K	$992K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4427	+0.428%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	−0.023%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4406	−0.048%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4410	+0.043%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4415	+0.156%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4410	+0.043%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4408	+0.004%	$398K	$790K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4410	+0.054%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4407	−0.031%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0159%	4h	0.4409	+0.030%	$710K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0184%	1h	0.4411	+0.077%	$38.3M	$24.5M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4409	+0.020%	$23K	$349K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0208%	1h	0.4411	+0.070%	$191K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4433	+0.564%	$35K	$225K	10x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4412	+0.088%	$3.1M	$3.1M	75x
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4419	+0.247%	$284K	$705K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4406	−0.041%	$363	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4407	−0.015%	$486K	—	100x	as long as short
Lighter ONDO	+0.0840%	1h	0.4417	+0.213%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1149%	1h	0.4408	long leg	$2K	—	20x