Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1055%/8h= −115.5% APRpaid last 24h −0.309%

Price spread now: edgeX against Reya+0.039%65s7-day average — · you sell dearer than you buy

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

Long on Reya Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. edgeX is 0.039% dearer against Reya than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 3 hours. The two prices were read 65 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	Reya ONDORUSDPERP	0.4334	0.1155	pay 0.0144% / 1h	53m 39s	$2K	—	20x
Short	edgeX ONDOUSDC	0.4336	0.0100	get 0.0050% / 4h	2h 53m	$4K	$315K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Reya. 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 ReyabpFee edgeXbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$221.55
Price spread: +0.039% → 0.000%: $3.88
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$232.67
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; edgeX: live order book, 59 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 Reya no order-book sample	—	—	—	—	—
Sell edgeX live order book, 59 min ago	4.53 bp	9.0 bp −$9	20.1 bp −$201	doesn't fit	doesn't fit

Reya: 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	0.4333	−0.029%	$2.6M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4335	+0.034%	$248K	$133K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4336	+0.047%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4334	−0.003%	$7K	—	150x	as long as short
01 Exchange ONDOUSD	+0.0024%	1h	0.4335	+0.026%	$357	$2K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.400%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4340	+0.132%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4334	0.000%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4336	+0.047%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4338	+0.100%	$36.4M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4336	+0.052%	$62.4M	$234.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4332	−0.046%	$67.5M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4334	0.000%	$17.1M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4346	+0.289%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4334	+0.001%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	0.000%	$12.0M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4334	0.000%	$42.7M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4332	−0.046%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4334	0.000%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4334	0.000%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4334	+0.005%	$175K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4341	+0.156%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4336	+0.039%	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4340	+0.139%	$407K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4339	+0.116%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	+0.023%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	+0.047%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.231%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	+0.047%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4334	−0.006%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	−0.010%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4337	+0.070%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0107%	4h	0.4336	+0.056%	$777K	$2.6M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4338	+0.093%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4342	+0.176%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.116%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4333	−0.019%	$482K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1155%	1h	0.4334	long leg	$2K	—	20x