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: SunX against edgeX+0.392%74s7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as 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−$1551.551% of the position

Long on edgeX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.370%−$37 · spread now +0.392%, 7d avg −0.014%

Together, before fees−0.304%+ Points / potential airdropedgeX: Active · farm board−$30 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: SunX is 0.406% dearer against edgeX than usual: you sell high and buy low, +$41 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 74 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	0.4324	0.0100	pay 0.0050% / 4h	2h 56m	$4K	$317K	20x
Short	SunX ONDO-USDT	0.4341	0.0100	get 0.0050% / 4h	2h 56m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.392%Rate

Funding earned: $0
Price spread: +0.392% → −0.014%: $40.65
Slippage, 4 orders: −$138.07
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$114.42
Costs to cover: 1.551%
Break-even: never at this rate

Slippage from edgeX: live order book, 57 min ago; SunX: live order book, 8 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, 57 min ago	4.53 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	47.24 bp	68.9 bp −$69	doesn't fit	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	0.4339	+0.342%	$2.6M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4339	+0.355%	$248K	$133K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4344	+0.462%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4342	+0.412%	$7K	—	150x	as long as short
01 Exchange ONDOUSD	+0.0024%	1h	0.4339	+0.334%	$357	$2K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.642%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.487%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4343	+0.438%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	+0.375%	$352K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4342	+0.415%	$36.5M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4342	+0.415%	$62.4M	$234.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	+0.369%	$67.6M	$125.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	+0.415%	$17.1M	$72.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4346	+0.519%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4340	+0.359%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4341	+0.392%	$12.0M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4341	+0.392%	$42.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	+0.392%	$12.2M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4342	+0.415%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4341	+0.392%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	+0.401%	$175K	$982K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4322	−0.053%	$681K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4324	long leg	$4K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4325	+0.032%	$404K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	+0.184%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	+0.357%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4341	+0.392%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4342	+0.415%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.462%	$129K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4342	+0.415%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4340	+0.362%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4343	+0.434%	$390K	$791K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	+0.388%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0116%	4h	0.4343	+0.438%	$777K	$2.6M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4338	+0.323%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4321	−0.063%	$34K	$214K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	+0.323%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4341	+0.401%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4339	+0.346%	$2K	—	20x	as long as short