Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against SoDEX−0.110%56s7-day average — · you buy dearer than you sell

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

Long on SoDEX 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—needs both histories

Funding pays, the price is against you. BloFin is 0.110% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.110% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 37 hours of funding at the current rate (+$7 a day). The two prices were read 56 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	SoDEX ONDO-USD	0.4553	0.0100	pay 0.0013% / 1h	38m 04s	$473	$14K	10x
Short	BloFin ONDO-USDT	0.4548	0.0340	get 0.0170% / 4h	38m 04s	$3.3M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.110%Rate

Funding earned: $50.4
Price spread: −0.110% → 0.000%: −$10.98
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $19.42
Costs to cover: 0.200%
Break-even: 4.3 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.10 bp	9.3 bp −$9	11.0 bp −$110	29.5 bp −$2,948	100.4 bp −$50.2K

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	−0.0801%	1h	0.4553	+0.004%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.329%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4551	−0.035%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4551	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4555	+0.044%	$437K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4555	+0.039%	$723K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4553	−0.003%	$68.2M	$228.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4552	−0.022%	$73.7M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4552	−0.022%	$17.7M	$81.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.195%	$74K	$89K	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	0.4554	+0.016%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4550	−0.066%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4552	−0.022%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4554	+0.022%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4554	+0.022%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4552	−0.022%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4559	+0.130%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	+0.044%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4556	+0.076%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4560	+0.154%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4556	+0.072%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4553	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USDlong	+0.0100%	1h	0.4553	long leg	$473	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4564	+0.242%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4554	+0.022%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4554	+0.021%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4552	−0.022%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4555	+0.033%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0120%	1h	0.4554	+0.029%	$230K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4554	+0.022%	$36K	$436K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.253%	$38K	$257K	10x	as long as short
Hyperliquid ONDO	+0.0287%	1h	0.4557	+0.096%	$40.4M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4550	−0.066%	$298K	$851K	50x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4548	−0.110%	$3.3M	$3.1M	75x
01 Exchange ONDOUSD	+0.0392%	1h	0.4558	+0.116%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4551	−0.038%	$544K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4563	+0.213%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4553	+0.009%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5139%	1h	0.4554	+0.023%	$258K	$131K	5x	as long as short