Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.105%

Price spread now: Coinbase International against edgeX+0.002%7-day average +0.215% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$650.648% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.811%+$81 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now +0.002%, 7d avg +0.215%

Together, before fees+1.157%+ Points / potential airdropedgeX: Active · farm board+$116 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.213% cheaper against edgeX than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.215%). If the spread goes back, that is −$21 on $10k: about 4.3 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.811% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4321	0.0100	pay 0.0050% / 4h	1h 37m	$5K	$316K	20x
Short	Coinbase International ONDO-PERP-INTX	0.4321	0.0264	get 0.0033% / 1h	37m 34s	$214K	$725K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.002%Rate

Funding earned: $34.44
Price spread: +0.002% → +0.215%: −$21.33
Slippage, 4 orders: −$45.77
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$51.65
Costs to cover: 0.648%
Break-even: 17.5 days

Slippage from edgeX: live order book, 6 min ago; Coinbase International: live order book, 6 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, 6 min ago	4.62 bp	9.1 bp −$9	19.0 bp −$190	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	9.25 bp	22.8 bp −$23	64.5 bp −$645	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	−0.0146%	1h	0.4319	−0.036%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4318	−0.064%	$242K	$136K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4319	−0.045%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.718%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4325	+0.106%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4321	+0.002%	$347K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4323	+0.048%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4322	+0.029%	$62.7M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	+0.002%	$67.3M	$125.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.048%	$17.2M	$73.1M	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	0.4319	−0.051%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4321	+0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4320	−0.021%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	+0.048%	$43.0M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	−0.021%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	−0.044%	$24.7M	$39.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4322	+0.025%	—	$23.4M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	−0.001%	$171K	$998K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	+0.065%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4321	long leg	$5K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4325	+0.094%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4330	+0.210%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	+0.043%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.044%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4319	−0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4320	−0.021%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.210%	$128K	$424K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4321	+0.002%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4322	+0.022%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	0.000%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	+0.023%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0159%	1h	0.4323	+0.043%	$36.2M	$27.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4323	+0.050%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	+0.025%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0264%	1h	0.4321	+0.002%	$214K	$725K	50x
Phoenix ONDO	+0.0313%	1h	0.4325	+0.092%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4323	+0.048%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4322	+0.015%	$486K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4320	−0.027%	$2K	—	20x	as long as short