Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against edgeX+0.195%53s7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as 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−$300.305% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)−0.267%−$27 · spread now +0.195%, 7d avg −0.049%

Together, before fees−0.191%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$19 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: Extended is 0.245% dearer against edgeX than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.049%. The two prices were read 53 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	0.4571	0.0100	pay 0.0050% / 4h	4m 30s	$5K	$319K	20x
Short	Extended ONDO-USD	0.4580	0.0104	get 0.0013% / 1h	4m 30s	$409K	$844K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.195%Rate

Funding earned: $0.84
Price spread: +0.195% → −0.049%: $24.48
Slippage, 4 orders: −$16.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$5.16
Costs to cover: 0.305%
Break-even: 50.0 days

Slippage from edgeX: live order book, 9 min ago; Extended: live order book, 9 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, 9 min ago	4.38 bp	9.6 bp −$10	16.6 bp −$166	doesn't fit	doesn't fit
Sell Extended live order book, 9 min ago	3.29 bp	6.2 bp −$6	16.1 bp −$161	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	−0.0798%	1h	0.4573	+0.042%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.058%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4573	+0.051%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4572	+0.034%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4572	+0.029%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4578	+0.160%	$439K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4583	+0.274%	$40.5M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4582	+0.248%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4582	+0.248%	$68.5M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4582	+0.248%	$74.2M	$120.5M	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	0.4580	+0.204%	$17.7M	$80.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4572	+0.020%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4581	+0.227%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4579	+0.182%	$12.0M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4581	+0.226%	$49.1M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4579	+0.182%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4581	+0.226%	$25.9M	$40.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4580	+0.204%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4575	+0.086%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	−0.061%	$809K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4571	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4566	−0.106%	$421K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4574	+0.073%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4577	+0.141%	$69K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4573	+0.051%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4573	+0.051%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	+0.117%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4573	+0.051%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4580	+0.212%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4580	+0.195%	$409K	$844K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4574	+0.083%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4577	+0.136%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4584	+0.296%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.117%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	+0.051%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4572	+0.039%	$546K	—	100x	as long as short
Lighter ONDO	+0.0656%	1h	0.4588	+0.386%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4575	+0.085%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2517%	1h	0.4578	+0.160%	$259K	$132K	5x	as long as short