Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.638%

Price spread now: Injective against edgeX−0.771%7-day average −0.948% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.359%−$336 on $10k

Price spread, last 3 days (all we have)+0.230%+$23 · spread now −0.771%, 7d avg −0.948%

Together, before fees−3.128%+ Points / potential airdropedgeX: Active · farm board−$313 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.177% dearer against edgeX than usual: you sell high and buy low (spread −0.771% now, against its 7-day average of −0.948%): +$18 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.9 days. At the pace of the last 7 days (−3.359% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4603	0.0100	pay 0.0050% / 4h	3h 14m	$5K	$320K	20x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	14m 59s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −0.771%Rate

Funding earned: −$14
Price spread: −0.771% → −0.948%: $17.75
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$5.27
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 58 min ago; Injective: no order-book sample. Net counts fees only.

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, 58 min ago	4.38 bp	9.6 bp −$10	16.6 bp −$166	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0866%	1h	0.4612	+0.177%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4613	+0.203%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4610	+0.142%	$6K	—	150x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	−0.771%	$888	$216K	5.5x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4611	+0.163%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4617	+0.283%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4615	+0.250%	$736K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4614	+0.228%	$69.2M	$221.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4611	+0.163%	$74.2M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4612	+0.185%	$17.7M	$78.2M	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	0.4593	−0.219%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4611	+0.174%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4610	+0.142%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4616	+0.272%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4615	+0.250%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4614	+0.229%	$26.1M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4612	+0.185%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	+0.094%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4603	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	+0.028%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.011%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4617	+0.298%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4615	+0.250%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4611	+0.163%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4618	+0.316%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4610	+0.142%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4614	+0.230%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4612	+0.190%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4615	+0.250%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0112%	1h	0.4614	+0.220%	$232K	$999K	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.332%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4617	+0.283%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4623	+0.424%	$300K	$820K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4613	+0.207%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0354%	1h	0.4617	+0.287%	$41.1M	$25.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0401%	1h	0.4613	+0.207%	$34K	$344K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4609	+0.126%	$551K	—	100x	as long as short
Lighter ONDO	+0.0656%	1h	0.4621	+0.379%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4615	+0.251%	$2K	—	20x	as long as short