Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1042%/8h= +114.1% APRpaid last 24h +0.305%

Price spread now: Reya against edgeX−0.370%65s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.370% cheaper against edgeX than usual: you would sell low and buy high (spread −0.370% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$37 on $10k: about 28 hours of funding at the current rate (+$31 a day). The two prices were read 65 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	0.4590	0.0100	pay 0.0050% / 4h	48m 20s	$5K	$319K	20x
Short	Reya ONDORUSDPERP	0.4573	0.1142	get 0.0143% / 1h	48m 20s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.370%Rate

Funding earned: $218.87
Price spread: −0.370% → 0.000%: −$37.03
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $166.84
Costs to cover: 0.150%
Break-even: 1.7 days

Slippage unknown: edgeX: live order book, 30 min ago; Reya: 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, 30 min ago	4.34 bp	8.8 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0798%	1h	0.4573	−0.373%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.476%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4572	−0.385%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4573	−0.367%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4569	−0.454%	$431K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4574	−0.349%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4574	−0.354%	$68.4M	$227.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4573	−0.367%	$74.2M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4573	−0.367%	$17.8M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4597	+0.154%	$75K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4571	−0.418%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4570	−0.433%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4574	−0.345%	$49.4M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4570	−0.433%	$13.8M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4574	−0.345%	$26.0M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4573	−0.367%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	−0.064%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4590	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4590	+0.005%	$434K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	−0.040%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	−0.332%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4575	−0.324%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4571	−0.411%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4582	−0.171%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4573	−0.367%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4571	−0.413%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4572	−0.385%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4576	−0.313%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0187%	1h	0.4574	−0.345%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0205%	1h	0.4574	−0.348%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	−0.247%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.199%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4576	−0.302%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0375%	1h	0.4575	−0.315%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0480%	1h	0.4575	−0.315%	$377	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4572	−0.394%	$546K	—	100x	as long as short
Lighter ONDO	+0.1024%	1h	0.4582	−0.167%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1142%	1h	0.4573	−0.370%	$2K	—	20x
dYdX ONDO-USD	+0.6883%	1h	0.4570	−0.439%	$259K	$129K	5x	as long as short