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: Bitget against edgeX+1.358%54s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as 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−$420.415% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 3 days (all we have)−1.364%−$136 · spread now +1.358%, 7d avg −0.001%

Together, before fees−1.369%+ Points / potential airdropedgeX: Active · farm board−$137 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: Bitget is 1.359% dearer against edgeX than usual: you sell high and buy low, +$136 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 54 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	edgeX ONDOUSDC	0.4577	0.0100	pay 0.0050% / 4h	3h 34m	$5K	$319K	20x
Short	Bitget ONDOUSDT	0.4639	0.0100	get 0.0050% / 4h	3h 34m	$26.3M	$39.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. 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 edgeXbpFee BitgetbpOrdersPrice spread, now +1.358%Rate

Funding earned: $0
Price spread: +1.358% → −0.001%: $135.85
Slippage, 4 orders: −$20.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: $94.31
Costs to cover: 0.415%
Break-even: from the start

Slippage from edgeX: live order book, 38 min ago; Bitget: live order book, 4 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 edgeX live order book, 38 min ago	4.38 bp	9.6 bp −$10	16.6 bp −$166	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.18 bp	11.0 bp −$11	22.5 bp −$225	97.5 bp −$9,745	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	−0.0862%	1h	0.4632	+1.203%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4635	+1.261%	$262K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4627	+1.098%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.194%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4628	+1.117%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	+1.095%	$434K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4639	+1.358%	$732K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4638	+1.336%	$69.5M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4637	+1.314%	$75.2M	$120.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4637	+1.314%	$17.8M	$80.1M	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	0.4632	+1.211%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4636	+1.293%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4636	+1.292%	$12.2M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4639	+1.358%	$50.3M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4640	+1.379%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4639	+1.358%	$26.3M	$39.8M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4637	+1.314%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4632	+1.209%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	+0.828%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4577	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4573	−0.077%	$423K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	+0.637%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4631	+1.187%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4632	+1.205%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4632	+1.205%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4635	+1.270%	$136K	$497K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4631	+1.183%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4637	+1.316%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4637	+1.321%	$412K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4634	+1.239%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0236%	1h	0.4645	+1.484%	$41.3M	$25.5M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.027%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4642	+1.434%	$382	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4627	+1.095%	$300K	$828K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4632	+1.205%	$3.3M	$2.9M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0398%	1h	0.4630	+1.161%	$34K	$363K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0188%	1h	0.4628	+1.107%	$552K	—	100x	as long as short
Lighter ONDO	+0.0600%	1h	0.4646	+1.508%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4627	+1.090%	$2K	—	20x	as long as short