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: edgeX against Extended+0.254%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Extended Short on edgeX

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)−0.087%−$9 · spread now +0.254%, 7d avg +0.048%

Together, before fees−0.163%+ Points / potential airdropExtended: Active · edgeX: Active · farm board−$16 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: edgeX is 0.206% dearer against Extended than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4592	0.0104	pay 0.0013% / 1h	52m 54s	$411K	$846K	25x
Short	edgeX ONDOUSDC	0.4603	0.0100	get 0.0050% / 4h	52m 54s	$5K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Extended. 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 ExtendedbpFee edgeXbpOrdersPrice spread, now +0.254%Rate

Funding earned: −$0.84
Price spread: +0.254% → +0.048%: $20.63
Slippage, 4 orders: −$15.35
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$9.57
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Extended: live order book, 25 min ago; edgeX: live order book, 25 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 Extended live order book, 25 min ago	2.17 bp	6.6 bp −$7	15.1 bp −$151	doesn't fit	doesn't fit
Sell edgeX live order book, 25 min ago	4.34 bp	8.8 bp −$9	15.0 bp −$150	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	−0.0794%	1h	0.4591	−0.013%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.514%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4590	−0.029%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4590	−0.035%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4595	+0.074%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4593	+0.030%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4593	+0.028%	$68.5M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4591	−0.013%	$74.5M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4591	−0.013%	$17.9M	$81.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4591	−0.009%	$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	0.4594	+0.044%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4589	−0.057%	$12.1M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4592	+0.009%	$49.5M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4590	−0.035%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4592	+0.009%	$26.0M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4591	−0.013%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4601	+0.202%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4603	+0.254%	$5K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4595	+0.077%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4590	−0.035%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4597	+0.128%	$70K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4596	+0.096%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4591	−0.013%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4608	+0.357%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4591	−0.013%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4592	+0.019%	$7K	$9	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4592	long leg	$411K	$846K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4595	+0.067%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4593	+0.024%	$38K	$257K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0253%	1h	0.4593	+0.041%	$232K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.161%	$302K	$861K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4592	+0.009%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0366%	1h	0.4596	+0.096%	$40.7M	$26.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0404%	1h	0.4592	+0.009%	$36K	$436K	25x	as long as short
01 Exchange ONDOUSD	+0.0512%	1h	0.4598	+0.144%	$378	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4590	−0.032%	$548K	—	100x	as long as short
Lighter ONDO	+0.1000%	1h	0.4601	+0.207%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4594	+0.059%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6487%	1h	0.4590	−0.026%	$260K	$129K	5x	as long as short