Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against KuCoin−0.404%98s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$560.555% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 4 days (all we have)+1.126%+$113 · spread now −0.404%, 7d avg −0.002%

Together, before fees+1.066%+ Points / potential airdropedgeX: Active · farm board+$107 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 0.403% cheaper against KuCoin than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 98 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	KuCoin ONDOUSDTM	0.4410	0.0100	pay 0.0050% / 4h	2h 03m	$13.1M	$10.9M	50x
Short	edgeX ONDOUSDC	0.4392	0.0100	get 0.0050% / 4h	2h 03m	$5K	$319K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now −0.404%Rate

Funding earned: $0
Price spread: −0.404% → −0.002%: −$40.26
Slippage, 4 orders: −$34.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$95.78
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; edgeX: live order book, 64 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 KuCoin live order book, 5 min ago	1.14 bp	19.4 bp −$19	43.3 bp −$433	doesn't fit	doesn't fit
Sell edgeX live order book, 64 min ago	4.35 bp	8.9 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit

ONDO on 38 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	−0.0363%	1h	0.4402	−0.173%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4408	−0.041%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4406	−0.091%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.583%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4401	−0.204%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	−0.011%	$381K	$837K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4416	+0.127%	$672K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4413	+0.067%	$64.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4413	+0.068%	$69.9M	$123.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4412	+0.045%	$17.1M	$72.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.488%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	+0.006%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4409	−0.023%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4412	+0.045%	$46.6M	$43.8M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4410	long leg	$13.1M	$10.9M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4413	+0.068%	$25.1M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4415	+0.113%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4393	−0.392%	$761K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4392	−0.404%	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4386	−0.553%	$404K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.476%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4409	−0.018%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4412	+0.045%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4405	−0.113%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4410	0.000%	$129K	$487K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4404	−0.142%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	+0.034%	$398K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4405	−0.113%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0171%	1h	0.4408	−0.036%	$196K	$992K	15x	as long as short
Phemex ONDOUSDT	+0.0204%	4h	0.4403	−0.159%	$4.2M	$7.5M	50x	as long as short
Hyperliquid ONDO	+0.0232%	1h	0.4415	+0.109%	$38.7M	$24.1M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.272%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4393	−0.388%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	+0.005%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4404	−0.136%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4404	−0.139%	$486K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4419	+0.209%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4408	−0.041%	$2K	—	20x	as long as short