Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against SunX−0.067%54s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1791.793% of the position

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.218%+$22 · spread now −0.067%, 7d avg +0.033%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.099% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 54 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	SunX ONDO-USDT	0.4510	0.0100	pay 0.0050% / 4h	3h 31m	—	$1.4M	20x
Short	KuCoin ONDOUSDTM	0.4507	0.0100	get 0.0050% / 4h	3h 31m	$14.2M	$10.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.033%: −$9.95
Slippage, 4 orders: −$159.31
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$189.26
Costs to cover: 1.793%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; KuCoin: live order book, 3 min ago.

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 SunX live order book, 4 min ago	47.77 bp	71.5 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.11 bp	21.1 bp −$21	51.5 bp −$515	doesn't fit	doesn't fit

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	−0.0940%	1h	0.4506	−0.084%	$2.9M	$7.3M	50x	as long as short
Phemex ONDOUSDT	−0.0573%	4h	0.4509	−0.022%	$5.0M	$6.0M	50x	as long as short
Bybit ONDOUSDT	−0.0072%	4h	0.4506	−0.089%	$71.6M	$113.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4511	+0.022%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4509	−0.027%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.084%	$994	$82K	5.5x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4507	−0.065%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4504	−0.133%	$439K	$648K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4509	−0.022%	$66.9M	$217.8M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4505	−0.111%	$17.7M	$78.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4503	−0.153%	$74K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4508	−0.035%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4505	−0.111%	$11.8M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4507	−0.067%	$52.2M	$44.2M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4507	−0.067%	$14.2M	$10.2M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4509	−0.022%	$25.7M	$40.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4508	−0.044%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4508	−0.042%	$224K	$940K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4492	−0.409%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4503	−0.149%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4508	−0.045%	$425K	$856K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4507	−0.067%	$159K	$326K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4508	−0.040%	$72K	$997K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4507	−0.067%	$25K	$8K	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4510	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4506	−0.089%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4517	+0.155%	$124K	$513K	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4506	−0.088%	$404K	$995K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4509	−0.026%	$36K	—	3x	as long as short
Aster ONDOUSDT	+0.0117%	4h	0.4510	0.000%	$757K	$1.9M	20x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4506	−0.082%	$29K	$222K	10x	as long as short
01 Exchange ONDOUSD	+0.0288%	1h	0.4510	−0.007%	$371	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4508	−0.044%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0448%	1h	0.4511	+0.020%	$40.9M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0472%	1h	0.4513	+0.067%	$318K	$804K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0611% / S −0.0203%	1h	0.4508	−0.033%	$560K	—	100x	as long as short
Lighter ONDO	+0.0720%	1h	0.4512	+0.053%	$1.2M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1136%	1h	0.4505	−0.113%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.7276%	1h	0.4507	−0.071%	$255K	$117K	5x	as long as short