Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against edgeX+0.311%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$530.529% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−0.327%−$33 · spread now +0.311%, 7d avg +0.004%

Together, before fees−0.267%+ Points / potential airdropedgeX: Active · farm board−$27 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: KuCoin is 0.307% dearer against edgeX than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4338	0.0100	pay 0.0050% / 4h	2h 13m	$4K	$317K	20x
Short	KuCoin ONDOUSDTM	0.4351	0.0100	get 0.0050% / 4h	2h 13m	$12.1M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.311%Rate

Funding earned: $0
Price spread: +0.311% → +0.004%: $30.7
Slippage, 4 orders: −$31.9
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$22.2
Costs to cover: 0.529%
Break-even: never at this rate

Slippage from edgeX: live order book, 35 min ago; KuCoin: live order book, 5 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, 35 min ago	4.61 bp	9.1 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.15 bp	16.2 bp −$16	34.9 bp −$349	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	−0.0240%	1h	0.4347	+0.223%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4349	+0.263%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0011%	1h	0.4341	+0.069%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.314%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4353	+0.345%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	+0.276%	$350K	$883K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4355	+0.415%	$36.2M	$26.5M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4354	+0.370%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4351	+0.311%	$63.1M	$237.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4349	+0.265%	$67.8M	$126.4M	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	0.4353	+0.357%	$17.3M	$74.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.127%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4348	+0.237%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4351	+0.311%	$12.3M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4352	+0.334%	$43.4M	$42.6M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4351	+0.311%	$12.1M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4353	+0.357%	$25.0M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4351	+0.311%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4352	+0.329%	$177K	$990K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	−0.086%	$639K	$1.8M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4338	long leg	$4K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4340	+0.060%	$403K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4338	+0.011%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4352	+0.343%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4348	+0.242%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4348	+0.242%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4350	+0.288%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	+0.403%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4349	+0.265%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4348	+0.245%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4349	+0.255%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4351	+0.314%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4349	+0.274%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4350	+0.288%	$218K	$762K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.198%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4349	+0.265%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4351	+0.311%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4349	+0.274%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4352	+0.339%	$2K	—	20x	as long as short