Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.161%

Price spread now: edgeX against Lighter−0.198%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 4 days (all we have)+0.367%+$37 · spread now −0.198%, 7d avg −0.091%

Together, before fees+0.094%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$9 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 0.107% cheaper against Lighter than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4402	0.0096	pay 0.0012% / 1h	55m 34s	$1.1M	$2.4M	10x
Short	edgeX ONDOUSDC	0.4394	0.0100	get 0.0050% / 4h	3h 55m	$4K	$315K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now −0.198%Rate

Funding earned: $0.84
Price spread: −0.198% → −0.091%: −$10.7
Slippage, 4 orders: −$27.93
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$46.79
Costs to cover: 0.369%
Break-even: 396.9 days

Slippage from Lighter: live order book, 6 min ago; edgeX: live order book, 63 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 Lighter live order book, 6 min ago	6.24 bp	11.3 bp −$11	24.7 bp −$247	doesn't fit	doesn't fit
Sell edgeX live order book, 63 min ago	4.59 bp	9.1 bp −$9	15.3 bp −$153	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	−0.0159%	1h	0.4392	−0.226%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4395	−0.163%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4390	−0.283%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.762%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4402	long leg	$1.1M	$2.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4391	−0.259%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	−0.043%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4397	−0.118%	$63.6M	$230.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4397	−0.123%	$68.2M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4399	−0.077%	$17.2M	$73.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4393	−0.211%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.218%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.214%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4393	−0.214%	$44.5M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4391	−0.259%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4393	−0.214%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4391	−0.259%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4393	−0.218%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.288%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4394	−0.198%	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.251%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	−0.145%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4402	+0.002%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4387	−0.350%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4394	−0.191%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4393	−0.214%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4394	−0.191%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4392	−0.229%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4391	−0.252%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	−0.179%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4396	−0.139%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4394	−0.195%	$760K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4385	−0.395%	$271K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0304%	1h	0.4397	−0.123%	$37.8M	$24.7M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4390	−0.282%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	−0.109%	$35K	$218K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0433%	1h	0.4393	−0.214%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4389	−0.314%	$521K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4386	−0.373%	$2K	—	20x	as long as short