Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1034%/8hnext payment −$1.29 per $10,000 · paid last 24h −0.302%

Price spread now: SoDEX against Reya−0.094%50s7-day average — · you buy dearer than you sell

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

Long on Reya Short on SoDEX

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

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and SoDEX is 0.094% cheaper against Reya than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	0.4423	0.1134	pay 0.0142% / 1h	23m 25s	$2K	—	20x
Short	SoDEX ONDO-USD	0.4419	0.0100	get 0.0013% / 1h	23m 25s	$459	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$217.24
Price spread: −0.094% → 0.000%: −$9.44
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$240.68
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; SoDEX: 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 Reya no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Reya and SoDEX: 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	−0.0492%	1h	0.4420	−0.063%	$2.9M	$7.2M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4425	+0.036%	$6K	—	150x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4419	−0.099%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4420	−0.077%	$454K	$634K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4425	+0.041%	$65.7M	$221.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4420	−0.072%	$69.5M	$114.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4423	−0.004%	$17.3M	$78.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4431	+0.184%	$73K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4425	+0.037%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4422	−0.027%	$11.6M	$18.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ONDO_USDT	+0.0100%	4h	0.4423	−0.004%	$49.6M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4420	−0.072%	$13.5M	$9.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4425	+0.041%	$25.0M	$41.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4423	−0.004%	—	$759K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4422	−0.031%	$235K	$942K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4412	−0.242%	$762K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4423	−0.001%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4428	+0.104%	$419K	$792K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4425	+0.041%	$156K	$352K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4424	+0.014%	$71K	$996K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4423	−0.004%	$24K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4424	+0.019%	—	$1.4M	20x	as long as short
SoDEX ONDO-USDshort	+0.0100%	1h	0.4419	−0.094%	$459	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4436	+0.290%	$109K	$526K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4423	−0.004%	$4.9M	$5.8M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4424	+0.012%	$386K	$946K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4426	+0.075%	$35K	—	3x	as long as short
Phoenix ONDO	+0.0127%	1h	0.4410	−0.287%	$28K	$251K	10x	as long as short
Injective ONDO/USDC PERP	+0.0131%	1h	0.4416	−0.162%	$994	$82K	5.5x	as long as short
Aster ONDOUSDT	+0.0145%	4h	0.4425	+0.038%	$746K	$1.8M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0202%	1h	0.4428	+0.109%	$20K	$344K	25x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4425	+0.050%	$364	$1K	10x	as long as short
Hyperliquid ONDO	+0.0305%	1h	0.4428	+0.102%	$39.2M	$26.2M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4427	+0.086%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0536%	1h	0.4429	+0.125%	$1.2M	$1.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0536%	1h	0.4436	+0.290%	$331K	$753K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0600% / S −0.0200%	1h	0.4424	+0.019%	$544K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1134%	1h	0.4423	long leg	$2K	—	20x
dYdX ONDO-USD	+1.1335%	1h	0.4421	−0.042%	$250K	$116K	5x	as long as short