Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h —

Price spread now: BloFin against RISEx+1.803%637s7-day average — · you sell dearer than you buy

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

Long on RISEx Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days—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 +$7 a day on $10k at the current rate, and BloFin is 1.803% dearer against RISEx than usual: you sell high and buy low: +$180 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 637 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	RISEx ONDO/USDC	0.4392	0.0100	pay 0.0013% / 1h	38m 07s	—	—	5x
Short	BloFin ONDO-USDT	0.4471	0.0340	get 0.0170% / 4h	2h 38m	$3.2M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against RISEx. 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 RISExbpFee BloFinbpOrdersPrice spread, now +1.803%Rate

Funding earned: $50.4
Price spread: +1.803% → 0.000%: $180.27
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $212.67
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: RISEx: no order-book sample; BloFin: live order book, 15 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 RISEx no order-book sample	—	—	—	—	—
Sell BloFin live order book, 15 min ago	1.12 bp	7.1 bp −$7	11.7 bp −$117	51.2 bp −$5,116	142.7 bp −$71.4K

RISEx: 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	−0.0364%	1h	0.4388	−0.081%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	+0.154%	$249K	$130K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4389	−0.064%	$23K	$349K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4390	−0.040%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.011%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4388	−0.087%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4395	+0.084%	$396K	$854K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4392	−0.003%	$683K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4399	+0.172%	$64.1M	$231.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4399	+0.163%	$69.9M	$125.5M	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	0.4400	+0.186%	$17.1M	$76.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4395	+0.079%	$72K	$88K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4392	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4392	+0.004%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4393	+0.027%	$43.2M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4390	−0.042%	$13.1M	$11.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4398	+0.140%	$25.0M	$40.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4398	+0.140%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4397	+0.129%	$197K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4401	+0.205%	$782K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4437	+1.030%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.232%	$406K	$962K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4434	+0.960%	$164K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	+0.020%	$92K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4390	−0.042%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	−0.064%	$456	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4397	+0.118%	$128K	$514K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4395	+0.079%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4387	−0.099%	$396K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4389	−0.076%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0240%	1h	0.4400	+0.191%	$38.8M	$25.4M	10x	as long as short
01 Exchange ONDOUSD	+0.0328%	1h	0.4393	+0.022%	$362	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4417	+0.573%	$283K	$791K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.764%	$35K	$231K	10x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4471	+1.803%	$3.2M	$3.0M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4389	−0.059%	$484K	—	100x	as long as short
Lighter ONDO	+0.0760%	1h	0.4396	+0.097%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.0895%	4h	0.4394	+0.049%	$4.2M	$7.3M	50x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4397	+0.113%	$2K	—	20x	as long as short