Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against edgeX−0.171%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on gTrade (Gains Network)

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 airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.171% cheaper against edgeX than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4408	0.0100	pay 0.0050% / 4h	2h 17m	$5K	$320K	20x
Short	gTrade (Gains Network) ONDO/USD	0.4400	L +0.0003% / S −0.0008%	get 0.0001% / 1h	17m 30s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.171%Rate

Funding earned: −$19.23
Price spread: −0.171% → 0.000%: −$17.08
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$55.31
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 51 min ago; gTrade (Gains Network): no order-book sample. 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 edgeX live order book, 51 min ago	4.35 bp	8.9 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 38 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	−0.0362%	1h	0.4405	−0.059%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4404	−0.092%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0008%	1h	0.4400	−0.171%	$6K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.641%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4404	−0.080%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	−0.160%	$385K	$861K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4404	−0.070%	$672K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4401	−0.160%	$63.8M	$231.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4400	−0.171%	$69.7M	$125.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4401	−0.148%	$17.0M	$75.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4413	+0.115%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4399	−0.200%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4399	−0.194%	$11.6M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4403	−0.103%	$46.3M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4400	−0.171%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4402	−0.126%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4403	−0.103%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.185%	$769K	$1.8M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4408	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4412	+0.112%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	−0.058%	$135K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4402	−0.114%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4410	+0.056%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4406	−0.035%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4413	+0.124%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4404	−0.072%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4399	−0.192%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4406	−0.024%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0142%	1h	0.4402	−0.135%	$201K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4405	−0.058%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0273%	1h	0.4404	−0.085%	$38.8M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.328%	$284K	$745K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.401%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4402	−0.130%	$362	$2K	10x	as long as short
Phemex ONDOUSDT	+0.0479%	4h	0.4402	−0.126%	$4.2M	$7.4M	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4405	−0.055%	$486K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4411	+0.085%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4401	−0.145%	$2K	—	20x	as long as short