Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Polymarket Perps−0.041%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1451.453% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.210%−$21 · spread now −0.041%, 7d avg −0.067%

Together, before fees−0.197%−$20 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: SunX is 0.026% dearer against Polymarket Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4392	0.0100	pay 0.0013% / 1h	37m 47s	$70K	$1.3M	10x
Short	SunX ONDO-USDT	0.4390	0.0100	get 0.0050% / 4h	1h 37m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Polymarket Perps. 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 Polymarket PerpsbpFee SunXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.067%: $2.58
Slippage, 4 orders: −$129.35
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$142.77
Costs to cover: 1.453%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; SunX: 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 Polymarket Perps live order book, 1 min ago	2.16 bp	6.8 bp −$7	7.0 bp −$70	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	46.62 bp	66.6 bp −$67	doesn't fit	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
dYdX ONDO-USD	0.0000%	1h	0.4389	−0.057%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4388	−0.084%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.012%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4387	−0.099%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4389	−0.064%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4394	+0.039%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4392	−0.005%	$63.8M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4389	−0.064%	$69.3M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4390	−0.041%	$16.9M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4396	+0.087%	$72K	$86K	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	0.4390	−0.033%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4386	−0.132%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4390	−0.041%	$47.1M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4387	−0.109%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4391	−0.018%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4390	−0.041%	—	$21.9M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4395	+0.065%	$711K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4396	+0.101%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	+0.403%	$407K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	+0.301%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4392	long leg	$70K	$1.3M	10x
SunX ONDO-USDTshort	+0.0100%	4h	0.4390	−0.041%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4390	−0.041%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4394	+0.050%	$129K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4386	−0.132%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4392	+0.008%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4391	−0.017%	$397K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	+0.006%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0125%	4h	0.4389	−0.066%	$709K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0142%	1h	0.4393	+0.036%	$38.1M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0176%	1h	0.4387	−0.102%	$189K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4410	+0.417%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4394	+0.050%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4400	+0.187%	$282K	$702K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4395	+0.071%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	−0.041%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4389	−0.067%	$484K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4397	+0.125%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4390	−0.037%	$2K	—	20x	as long as short