Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: edgeX against Orderly−0.737%71s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.737% cheaper against Orderly than usual: you would sell low and buy high, −$74 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 71 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	Orderly PERP_ONDO_USDC	0.4339	0.0100	pay 0.0050% / 4h	2h 20m	$23K	$6K	10x
Short	edgeX ONDOUSDC	0.4307	0.0100	get 0.0050% / 4h	2h 20m	$4K	$316K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Orderly. 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 OrderlybpFee edgeXbpOrdersPrice spread, now −0.737%Rate

Funding earned: $0
Price spread: −0.737% → 0.000%: −$73.73
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$88.73
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; edgeX: live order book, 28 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 Orderly no order-book sample	—	—	—	—	—
Sell edgeX live order book, 28 min ago	4.61 bp	9.1 bp −$9	15.6 bp −$156	doesn't fit	doesn't fit

Orderly: 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	−0.0241%	1h	0.4337	−0.042%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4338	−0.026%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0013%	1h	0.4333	−0.143%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.278%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.085%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4337	−0.052%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4341	+0.055%	$36.2M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.084%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4343	+0.086%	$62.5M	$237.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	+0.023%	$67.8M	$126.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	+0.092%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	−0.090%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4338	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4338	−0.023%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4342	+0.069%	$43.3M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4339	0.000%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4340	+0.023%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4338	−0.023%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	−0.413%	$177K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.444%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4307	−0.737%	$4K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4313	−0.601%	$398K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4306	−0.761%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4339	+0.002%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4339	long leg	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4340	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4340	+0.023%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4348	+0.207%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4339	0.000%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4340	+0.030%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4339	−0.005%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	+0.058%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0112%	1h	0.4340	+0.014%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4341	+0.046%	$218K	$760K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4311	−0.655%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	−0.415%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4338	−0.034%	$494K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0672%	1h	0.4342	+0.069%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4339	−0.006%	$2K	—	20x	as long as short