Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h +1.382%

Price spread now: dYdX against edgeX+0.363%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$239as in the Price arb table

costs, in and out, $10k−$2782.784% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.780%+$278 on $10k

Price spread, last 4 days (all we have)−0.419%−$42 · spread now +0.363%, 7d avg −0.028%

Together, before fees+2.361%+ Points / potential airdropedgeX: Active · farm board+$236 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.392% dearer against edgeX than usual: you sell high and buy low (spread +0.363% now, against its 7-day average of −0.028%): +$39 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 days. Mind the row above: over the last 7 days funding on this pair paid +2.780%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4325	0.0100	pay 0.0050% / 4h	2h 17m	$4K	$316K	20x
Short	dYdX ONDO-USD	0.4340	0.0012	get 0.0001% / 1h	17m 19s	$244K	$137K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.363%Rate

Funding earned: −$18.56
Price spread: +0.363% → −0.028%: $39.17
Slippage, 4 orders: −$259.36
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$257.74
Costs to cover: 2.784%
Break-even: never at this rate

Slippage from edgeX: live order book, 31 min ago; dYdX: live order book, 32 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, 31 min ago	4.61 bp	9.1 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell dYdX live order book, 32 min ago	24.14 bp	224.4 bp −$224	226.6 bp −$2,266	233.0 bp −$23.3K	821.3 bp −$410.6K

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	−0.0240%	1h	0.4344	+0.441%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	+0.352%	$7K	—	150x	as long as short
dYdX ONDO-USDshort	+0.0012%	1h	0.4340	+0.363%	$244K	$137K	5x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.625%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.471%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	+0.405%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4345	+0.467%	$36.2M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4344	+0.453%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4342	+0.399%	$62.9M	$237.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4339	+0.330%	$67.8M	$126.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	+0.399%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	+0.240%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4343	+0.418%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4342	+0.399%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4341	+0.376%	$43.2M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	+0.399%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	+0.376%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4341	+0.376%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	+0.453%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.115%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4325	long leg	$4K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	+0.378%	$411K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4344	+0.446%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4343	+0.425%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	+0.376%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4346	+0.492%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	+0.515%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	+0.700%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4345	+0.469%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4343	+0.419%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4342	+0.408%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	+0.446%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4344	+0.434%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4347	+0.515%	$218K	$762K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.494%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	+0.376%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0441%	1h	0.4343	+0.423%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4339	+0.341%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4342	+0.388%	$2K	—	20x	as long as short