Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.066%

Price spread now: edgeX against Hyperliquid+0.440%46s7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as 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−$300.303% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.359%−$36 on $10k

Price spread, last 4 days (all we have)−0.526%−$53 · spread now +0.440%, 7d avg −0.083%

Together, before fees−0.885%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board−$89 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 0.523% dearer against Hyperliquid than usual: you sell high and buy low, +$52 on $10k if it goes back to its 7-day average of −0.083%. The two prices were read 46 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	Hyperliquid ONDO	0.4302	0.0100	pay 0.0013% / 1h	40m 47s	$36.0M	$26.0M	10x
Short	edgeX ONDOUSDC	0.4321	0.0100	get 0.0050% / 4h	2h 40m	$4K	$315K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now +0.440%Rate

Funding earned: $0
Price spread: +0.440% → −0.083%: $52.35
Slippage, 4 orders: −$12.25
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $22.1
Costs to cover: 0.303%
Break-even: from the start

Slippage from Hyperliquid: live order book, 2 min ago; edgeX: live order book, 7 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 Hyperliquid live order book, 2 min ago	0.93 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 7 min ago	4.61 bp	9.1 bp −$9	15.6 bp −$156	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	−0.0242%	1h	0.4307	+0.112%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4309	+0.158%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4308	+0.132%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0026%	1h	0.4300	−0.043%	$246K	$133K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.178%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4314	+0.267%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4304	+0.033%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4308	+0.135%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4310	+0.193%	$349K	$874K	10x	as long as short
Hyperliquid ONDOlong	+0.0100%	1h	0.4302	long leg	$36.0M	$26.0M	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4303	+0.019%	$775K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4300	−0.044%	$61.9M	$234.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4297	−0.121%	$66.8M	$125.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4299	−0.074%	$17.1M	$72.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4325	+0.537%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4314	+0.267%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4300	−0.051%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4300	−0.051%	$42.3M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4297	−0.121%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4302	−0.005%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4301	−0.028%	—	$23.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4302	0.000%	$175K	$985K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	+0.108%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4321	+0.440%	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4328	+0.598%	$408K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	+0.460%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4311	+0.200%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4311	+0.205%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4309	+0.158%	$448	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4324	+0.507%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4309	+0.158%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4315	+0.298%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4299	−0.067%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4311	+0.195%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.018%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4323	+0.490%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4307	+0.112%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4308	+0.135%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4309	+0.159%	$2K	—	20x	as long as short