Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1060%/8h= −116.1% APRpaid last 24h −0.310%

Price spread now: KuCoin against Reya+0.062%49s7-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 KuCoin

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. KuCoin is 0.062% dearer against Reya than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4309	0.1160	pay 0.0145% / 1h	34m 34s	$2K	—	20x
Short	KuCoin ONDOUSDTM	0.4312	0.0100	get 0.0050% / 4h	34m 34s	$12.0M	$10.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$222.6
Price spread: +0.062% → 0.000%: $6.16
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$234.44
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	1.16 bp	16.9 bp −$17	29.5 bp −$295	doesn't fit	doesn't fit

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	0.4312	+0.055%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4310	+0.011%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.002%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4313	+0.092%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4309	+0.004%	$345K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4321	+0.259%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4319	+0.235%	$62.6M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4316	+0.154%	$67.8M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4318	+0.201%	$17.2M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4325	+0.375%	$71K	$81K	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	0.4316	+0.158%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4310	+0.015%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4310	+0.015%	$43.5M	$42.1M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4312	+0.062%	$12.0M	$10.4M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4310	+0.015%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4314	+0.108%	—	$777K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	+0.138%	$175K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	+0.007%	$677K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4320	+0.247%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4329	+0.456%	$399K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4319	+0.224%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4311	+0.050%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4310	+0.015%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4311	+0.038%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4312	+0.062%	$488	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4324	+0.340%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4313	+0.085%	$4.2M	$8.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4311	+0.038%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4316	+0.150%	$353K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4314	+0.114%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4321	+0.263%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4311	+0.038%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4324	+0.340%	$214K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4332	+0.530%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4312	+0.062%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0348%	1h	0.4314	+0.096%	$36.4M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4309	−0.009%	$493K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1160%	1h	0.4309	long leg	$2K	—	20x
dYdX ONDO-USD	+0.1609%	1h	0.4311	+0.042%	$242K	$156K	5x	as long as short