Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0051%/8h= −5.5% APRpaid last 24h +0.741%

Price spread now: edgeX against Injective−1.180%7-day average +0.965% · you buy dearer than you sell

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

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+3.353%+$335 on $10k

Price spread, last 3 days (all we have)+1.835%+$183 · spread now −1.180%, 7d avg +0.965%

Together, before fees+5.188%+ Points / potential airdropedgeX: Active · farm board+$519 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 2.146% cheaper against Injective than usual: you would sell low and buy high (−$215 if the spread goes back to its 7-day average of +0.965%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.353%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4601	0.0151	pay 0.0019% / 1h	38m 22s	$894	$181K	5.5x
Short	edgeX ONDOUSDC	0.4547	0.0100	get 0.0050% / 4h	1h 38m	$5K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now −1.180%Rate

Funding earned: −$10.61
Price spread: −1.180% → +0.965%: −$214.57
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$234.2
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 45 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, 45 min ago	4.42 bp	8.9 bp −$9	15.3 bp −$153	doesn't fit	doesn't fit

Injective: 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	−0.0350%	1h	0.4591	−0.227%	$2.8M	$7.9M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4606	+0.109%	$16K	$385K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4580	−0.453%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4580	−0.456%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4578	−0.489%	$434K	$691K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4582	−0.413%	$744K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4582	−0.406%	$67.4M	$224.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4580	−0.456%	$74.4M	$119.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4581	−0.435%	$17.9M	$81.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4626	+0.550%	$73K	$87K	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	0.4579	−0.479%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4580	−0.456%	$11.9M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4581	−0.435%	$48.1M	$44.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4576	−0.543%	$13.7M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4581	−0.435%	$25.9M	$41.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4580	−0.456%	—	$742K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4594	−0.146%	$209K	$985K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−1.196%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4547	−1.180%	$5K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4547	−1.183%	$420K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4581	−0.443%	$77K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4624	+0.500%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4596	−0.109%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	+0.261%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4593	−0.174%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4582	−0.413%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4582	−0.404%	$407K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4589	−0.253%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−1.037%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERPlong	+0.0151%	1h	0.4601	long leg	$894	$181K	5.5x
ApeX Omni ONDOUSDT	+0.0160%	1h	0.4546	−1.195%	$160K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4597	−0.087%	$302K	$869K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4592	−0.196%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4586	−0.322%	$377	$2K	10x	as long as short
Hyperliquid ONDO	+0.0525%	1h	0.4587	−0.311%	$41.1M	$27.4M	10x	as long as short
Lighter ONDO	+0.0568%	1h	0.4597	−0.078%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0595% / S −0.0191%	1h	0.4580	−0.446%	$551K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4582	−0.409%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1246%	1h	0.4588	−0.277%	$260K	$130K	5x	as long as short