Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0051%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h —

Price spread now: Injective against RISEx−1.036%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on Injective

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

Funding pays, the price is against you. Injective is 1.036% cheaper against RISEx than usual: you would sell low and buy high (spread −1.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$104 on $10k: about 2 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4550	0.0100	pay 0.0013% / 1h	45m 22s	—	—	5x
Short	Injective ONDO/USDC PERP	0.4503	0.0151	get 0.0019% / 1h	45m 22s	$1K	$181K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.036%Rate

Funding earned: $10.61
Price spread: −1.036% → 0.000%: −$103.57
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$98.97
Costs to cover: 0.060%
Break-even: 72.3 days

Slippage unknown: RISEx: no order-book sample; Injective: 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 RISEx no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

RISEx and Injective: 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	−0.0354%	1h	0.4545	−0.111%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4550	+0.008%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4552	+0.041%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4552	+0.036%	$427K	$680K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4553	+0.070%	$763K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4552	+0.047%	$67.0M	$219.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4551	+0.019%	$73.8M	$117.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4554	+0.085%	$17.7M	$80.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4543	−0.146%	$73K	$85K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4550	long leg	—	—	5x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4553	+0.063%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4553	+0.063%	$48.0M	$44.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4550	−0.003%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4554	+0.085%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4552	+0.041%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4547	−0.060%	$196K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4533	−0.375%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4533	−0.373%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4530	−0.440%	$419K	$941K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4553	+0.074%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	+0.107%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.047%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4547	−0.069%	$130K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4544	−0.135%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4551	+0.016%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4550	−0.005%	$403K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4556	+0.137%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4521	−0.640%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERPshort	+0.0151%	1h	0.4503	−1.036%	$1K	$181K	5.5x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4550	−0.003%	$301K	$853K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4529	−0.464%	$3.2M	$3.1M	75x	as long as short
ApeX Omni ONDOUSDT	+0.0343%	1h	0.4538	−0.266%	$160K	$333K	50x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4555	+0.109%	$375	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0409%	1h	0.4556	+0.129%	$19K	$364K	25x	as long as short
Hyperliquid ONDO	+0.0520%	1h	0.4555	+0.109%	$40.7M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0191%	1h	0.4552	+0.035%	$548K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4555	+0.112%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4554	+0.087%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1227%	1h	0.4545	−0.123%	$257K	$130K	5x	as long as short