Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.050%

Price spread now: SunX against 01 Exchange−0.279%7-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 SunX

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SunX is 0.279% cheaper against 01 Exchange than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4338	0.0288	pay 0.0036% / 1h	42m 36s	$357	$2K	10x
Short	SunX ONDO-USDT	0.4326	0.0100	get 0.0050% / 4h	3h 42m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.279%Rate

Funding earned: −$39.48
Price spread: −0.279% → 0.000%: −$27.89
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$82.37
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; SunX: live order book, 12 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 01 Exchange no order-book sample	—	—	—	—	—
Sell SunX live order book, 12 min ago	47.37 bp	70.5 bp −$70	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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	−0.0177%	1h	0.4327	−0.266%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4327	−0.256%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4325	−0.295%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.300%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	−0.048%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.095%	$346K	$885K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	−0.029%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4335	−0.072%	$63.3M	$233.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4333	−0.118%	$68.3M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4336	−0.048%	$17.3M	$71.9M	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	0.4327	−0.256%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.070%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4332	−0.141%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	−0.164%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4330	−0.187%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4333	−0.118%	$24.9M	$36.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4332	−0.141%	—	$779K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	−0.180%	$180K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	+0.016%	$682K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4341	+0.058%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.111%	$400K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4341	+0.067%	$134K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4331	−0.164%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4326	−0.279%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4326	−0.279%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4327	−0.256%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4336	−0.048%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4328	−0.233%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4332	−0.147%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4333	−0.120%	$364K	$831K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4329	−0.212%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4320	−0.417%	$213K	$729K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4344	+0.143%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSDlong	+0.0288%	1h	0.4338	long leg	$357	$2K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4332	−0.141%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4329	−0.204%	$495K	—	100x	as long as short
Hyperliquid ONDO	+0.0635%	1h	0.4336	−0.046%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4327	−0.250%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2152%	1h	0.4331	−0.172%	$243K	$155K	5x	as long as short