Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.056%

Price spread now: Orderly against 01 Exchange−0.060%46s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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. Orderly is 0.060% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 46 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	01 Exchange ONDOUSD	0.4300	0.0080	pay 0.0010% / 1h	27m 37s	$354	$2K	10x
Short	Orderly PERP_ONDO_USDC	0.4297	0.0100	get 0.0050% / 4h	2h 27m	$23K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against 01 Exchange. 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 01 ExchangebpFee OrderlybpOrdersPrice spread, now −0.060%Rate

Funding earned: $4.2
Price spread: −0.060% → 0.000%: −$6.05
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$14.85
Costs to cover: 0.130%
Break-even: 31.7 days

Slippage unknown: 01 Exchange: no order-book sample; Orderly: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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	−0.0243%	1h	0.4297	−0.049%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4296	−0.087%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0015%	1h	0.4297	−0.065%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.242%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSDlong	+0.0080%	1h	0.4300	long leg	$354	$2K	10x
Lighter ONDO	+0.0096%	1h	0.4303	+0.086%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4297	−0.066%	$348K	$877K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4300	+0.002%	$35.9M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4302	+0.056%	$769K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	+0.033%	$61.9M	$236.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4298	−0.037%	$67.1M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4300	+0.009%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4295	−0.095%	$70K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4298	−0.035%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4299	−0.014%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4300	+0.009%	$42.4M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4299	−0.014%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4300	+0.009%	$24.6M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4300	+0.009%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4301	+0.044%	$176K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4295	−0.111%	$649K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4308	+0.184%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	+0.129%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4307	+0.172%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4299	−0.016%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDCshort	+0.0100%	4h	0.4297	−0.060%	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4299	−0.014%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4299	−0.014%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4305	+0.126%	$127K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4300	+0.009%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4300	−0.002%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4299	−0.019%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4301	+0.044%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0215%	1h	0.4300	+0.009%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.079%	$218K	$764K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4306	+0.149%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4309	+0.219%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4295	−0.098%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4297	−0.060%	$2K	—	20x	as long as short