Funding arb · Price arb /

ONDO

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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 0.000%

Price spread now: Bybit against edgeX−0.226%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.226%, 7d avg −0.051%

Together, before fees+0.057%+ Points / potential airdropedgeX: Active · farm board+$6 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: Bybit is 0.175% cheaper against edgeX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4369	0.0100	pay 0.0050% / 4h	3h 25m	$4K	$315K	20x
Short	Bybit ONDOUSDT	0.4359	0.0100	get 0.0050% / 4h	3h 25m	$67.7M	$124.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.226%Rate

Funding earned: $0
Price spread: −0.226% → −0.051%: −$17.45
Slippage, 4 orders: −$15.19
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$52.64
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from edgeX: live order book, 28 min ago; Bybit: 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, 28 min ago	4.53 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.14 bp	8.3 bp −$8	14.2 bp −$142	52.3 bp −$5,233	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	−0.0161%	1h	0.4359	−0.215%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4361	−0.184%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0031%	1h	0.4365	−0.085%	$247K	$129K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.558%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4366	−0.066%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4361	−0.180%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4362	−0.157%	$360K	$841K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4362	−0.155%	$63.0M	$230.5M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4359	−0.226%	$67.7M	$124.4M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4362	−0.157%	$17.1M	$72.0M	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	0.4372	+0.067%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4362	−0.155%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4360	−0.203%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4362	−0.157%	$43.2M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4362	−0.157%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4363	−0.134%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4362	−0.157%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4368	−0.029%	$184K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	−0.118%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4369	long leg	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4379	+0.232%	$411K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4368	−0.020%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4364	−0.123%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4366	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4362	−0.157%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4371	+0.049%	$129K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4363	−0.134%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4365	−0.083%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4361	−0.174%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4364	−0.118%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4361	−0.171%	$359	$2K	10x	as long as short
Aster ONDOUSDT	+0.0171%	4h	0.4363	−0.126%	$784K	$2.6M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0209%	1h	0.4363	−0.134%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0215%	1h	0.4366	−0.066%	$37.5M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	−0.020%	$248K	$725K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4377	+0.184%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4365	−0.089%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0556% / S −0.0193%	1h	0.4360	−0.198%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4363	−0.131%	$2K	—	20x	as long as short