Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against edgeX−0.186%7-day average −0.052% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.586%−$59 · spread now −0.186%, 7d avg −0.052%

Together, before fees−0.598%+ Points / potential airdropedgeX: Active · farm board−$60 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: Bybit is 0.134% cheaper against edgeX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4415	0.0100	pay 0.0050% / 4h	2h 30m	$5K	$320K	20x
Short	Bybit ONDOUSDT	0.4407	0.0100	get 0.0050% / 4h	2h 30m	$69.8M	$125.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.186%Rate

Funding earned: $0
Price spread: −0.186% → −0.052%: −$13.41
Slippage, 4 orders: −$13.71
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.11
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; Bybit: 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 edgeX live order book, 37 min ago	4.35 bp	8.9 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.13 bp	7.1 bp −$7	15.6 bp −$156	61.6 bp −$6,165	doesn't fit

ONDO on 38 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	−0.0363%	1h	0.4403	−0.273%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4408	−0.168%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	−0.235%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.460%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4405	−0.232%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4410	−0.130%	$395K	$853K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4409	−0.142%	$669K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4408	−0.171%	$64.2M	$231.7M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4407	−0.186%	$69.8M	$125.4M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4407	−0.186%	$17.1M	$75.6M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4406	−0.216%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4408	−0.160%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4405	−0.232%	$11.6M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4406	−0.209%	$44.0M	$42.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4407	−0.186%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4408	−0.164%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4407	−0.186%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4408	−0.162%	$201K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.145%	$767K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4415	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4398	−0.388%	$417K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.005%	$136K	$371K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4410	−0.116%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4408	−0.164%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4405	−0.232%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4417	+0.040%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4407	−0.189%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4407	−0.195%	$398K	$820K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4407	−0.186%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4406	−0.209%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0273%	1h	0.4410	−0.114%	$39.0M	$25.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.153%	$284K	$757K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4411	−0.084%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0344%	1h	0.4414	−0.037%	$363	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4404	−0.257%	$486K	—	100x	as long as short
Phemex ONDOUSDT	+0.0802%	4h	0.4405	−0.232%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0824%	1h	0.4412	−0.064%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4409	−0.135%	$2K	—	20x	as long as short