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: Binance against edgeX+0.350%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.608%−$61 · spread now +0.350%, 7d avg +0.015%

Together, before fees−0.608%+ Points / potential airdropedgeX: Active · farm board−$61 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: Binance is 0.335% dearer against edgeX than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4507	0.0100	pay 0.0050% / 4h	2h 43m	$5K	$319K	20x
Short	Binance ONDOUSDT	0.4523	0.0100	get 0.0050% / 4h	2h 43m	$66.6M	$220.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now +0.350%Rate

Funding earned: $0
Price spread: +0.350% → +0.015%: $33.51
Slippage, 4 orders: −$16.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$1.97
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from edgeX: live order book, 44 min ago; Binance: live order book, 15 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 edgeX live order book, 44 min ago	5.55 bp	10.3 bp −$10	16.7 bp −$167	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	1.10 bp	7.5 bp −$8	15.0 bp −$150	53.7 bp −$5,369	396.6 bp −$198.3K

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	−0.1127%	1h	0.4512	+0.118%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4513	+0.134%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4512	+0.123%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4503	−0.093%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.019%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4512	+0.111%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4522	+0.339%	$431K	$672K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4521	+0.311%	$40.7M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4521	+0.306%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4523	+0.350%	$66.6M	$220.1M	75x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4523	+0.355%	$73.4M	$117.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4522	+0.333%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4510	+0.060%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4523	+0.358%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4518	+0.245%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4516	+0.200%	$47.5M	$45.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4517	+0.222%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4523	+0.355%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4520	+0.289%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4514	+0.149%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4497	−0.221%	$799K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4507	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4521	+0.321%	$425K	$929K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4507	0.000%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4525	+0.389%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4511	+0.089%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4512	+0.111%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4522	+0.333%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4512	+0.111%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4517	+0.219%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	+0.305%	$402K	$986K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4514	+0.158%	$36K	—	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4512	+0.111%	$303K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4513	+0.134%	$3.3M	$3.0M	75x	as long as short
Lighter ONDO	+0.0448%	1h	0.4524	+0.382%	$1.4M	$2.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0456%	1h	0.4528	+0.471%	$373	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4512	+0.101%	$561K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4521	+0.301%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0289%	1h	0.4517	+0.229%	$256K	$117K	5x	as long as short