Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −1.392%

Price spread now: edgeX against dYdX−0.035%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$384as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1071.074% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.766%−$277 on $10k

Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.035%, 7d avg +0.031%

Together, before fees−2.517%+ Points / potential airdropedgeX: Active · farm board−$252 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.066% cheaper against dYdX than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.031%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −2.766%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4395	0	get 0.0000% / 1h	55m 02s	$249K	$129K	5x
Short	edgeX ONDOUSDC	0.4394	0.0100	get 0.0050% / 4h	3h 55m	$4K	$315K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $21
Price spread: −0.035% → +0.031%: −$6.64
Slippage, 4 orders: −$88.38
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$93.02
Costs to cover: 1.074%
Break-even: 38.0 days

Slippage from dYdX: live order book, 64 min ago; edgeX: live order book, 63 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 dYdX live order book, 64 min ago	27.22 bp	34.2 bp −$34	94.8 bp −$948	148.1 bp −$14.8K	610.8 bp −$305.4K
Sell edgeX live order book, 63 min ago	4.59 bp	9.1 bp −$9	15.3 bp −$153	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	−0.0159%	1h	0.4406	+0.256%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USDlong	0.0000%	1h	0.4395	long leg	$249K	$129K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4402	+0.152%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.931%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4409	+0.316%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4403	+0.177%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	+0.120%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4407	+0.268%	$63.7M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4404	+0.200%	$68.3M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4406	+0.246%	$17.2M	$73.5M	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	0.4393	−0.048%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.055%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4407	+0.268%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	+0.337%	$44.3M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4405	+0.223%	$12.8M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4407	+0.268%	$25.3M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4409	+0.314%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4410	+0.348%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.125%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4394	−0.035%	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.087%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	+0.018%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4402	+0.166%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4403	+0.177%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4408	+0.291%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4414	+0.428%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4408	+0.291%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4392	−0.066%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4403	+0.172%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	+0.289%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4396	+0.025%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4407	+0.265%	$762K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4385	−0.232%	$271K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0323%	1h	0.4413	+0.405%	$38.0M	$24.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.246%	$3.1M	$3.1M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	+0.054%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4400	+0.115%	$523K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0658%	1h	0.4407	+0.268%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4403	+0.171%	$2K	—	20x	as long as short