Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.002%

Price spread now: Deribit against edgeX+0.059%75s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.389% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now +0.059%, 7d avg +0.015%

Together, before fees+0.038%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.044% dearer against edgeX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.015%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4408	0.0100	pay 0.0050% / 4h	2h 27m	$5K	$320K	20x
Short	Deribit ONDO_USDC-PERPETUAL	0.4411	0.0204	get 0.0025% / 1h	27m 45s	$23K	$349K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.059%Rate

Funding earned: $21.84
Price spread: +0.059% → +0.015%: $4.37
Slippage, 4 orders: −$22.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$12.73
Costs to cover: 0.389%
Break-even: 11.1 days

Slippage from edgeX: live order book, 40 min ago; Deribit: live order book, 41 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, 40 min ago	4.35 bp	8.9 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	4.35 bp	12.2 bp −$12	doesn't fit	doesn't fit	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	−0.0362%	1h	0.4409	+0.013%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4408	−0.003%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	+0.013%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.620%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4410	+0.036%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4412	+0.087%	$387K	$856K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4414	+0.124%	$670K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4414	+0.136%	$64.1M	$231.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4414	+0.127%	$69.9M	$125.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	+0.172%	$17.1M	$75.8M	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	0.4408	−0.016%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	+0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4410	+0.036%	$11.6M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	+0.059%	$44.1M	$42.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4412	+0.081%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4415	+0.149%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4414	+0.127%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4412	+0.084%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	+0.009%	$767K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4408	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4398	−0.234%	$417K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4409	+0.013%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4412	+0.072%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4412	+0.081%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4411	+0.059%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4419	+0.240%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4409	+0.005%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	+0.061%	$398K	$821K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4413	+0.097%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0204%	1h	0.4411	+0.059%	$23K	$349K	25x
Hyperliquid ONDO	+0.0297%	1h	0.4420	+0.263%	$39.1M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.308%	$284K	$756K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	+0.013%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	+0.036%	$363	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4409	+0.005%	$486K	—	100x	as long as short
Phemex ONDOUSDT	+0.0778%	4h	0.4414	+0.127%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0824%	1h	0.4423	+0.340%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4410	+0.042%	$2K	—	20x	as long as short