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 −0.003%

Price spread now: Gate against edgeX−0.272%67s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$530.531% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now −0.272%, 7d avg −0.051%

Together, before fees−0.121%+ Points / potential airdropedgeX: Active · farm board−$12 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: Gate is 0.221% cheaper against edgeX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.051%. The two prices were read 67 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	0.4414	0.0100	pay 0.0050% / 4h	1h 08m	$5K	$316K	20x
Short	Gate ONDO_USDT	0.4402	0.0100	get 0.0050% / 4h	1h 08m	$11.6M	$16.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.272%Rate

Funding earned: $0
Price spread: −0.272% → −0.051%: −$22.1
Slippage, 4 orders: −$29.06
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$75.16
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from edgeX: live order book, 55 min ago; Gate: live order book, 5 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, 55 min ago	4.54 bp	9.5 bp −$10	16.1 bp −$161	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.26 bp	17.4 bp −$17	32.4 bp −$324	44.2 bp −$4,416	73.6 bp −$36.8K

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	+0.0001%	1h	0.4397	−0.383%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	−0.193%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.489%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4400	−0.309%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4405	−0.204%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4403	−0.255%	$372K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4407	−0.159%	$64.0M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4406	−0.181%	$69.9M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4407	−0.159%	$17.1M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	−0.304%	$73K	$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	0.4403	−0.256%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4402	−0.272%	$11.6M	$16.2M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4406	−0.181%	$47.7M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4403	−0.249%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4405	−0.204%	$25.2M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4405	−0.204%	—	$21.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4410	−0.099%	$714K	$1.8M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4414	long leg	$5K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4418	+0.094%	$408K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	+0.068%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4406	−0.177%	$64K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4403	−0.249%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4403	−0.249%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4410	−0.091%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4403	−0.249%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4404	−0.228%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4401	−0.287%	$398K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	−0.136%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0138%	1h	0.4406	−0.170%	$38.2M	$24.2M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0182%	1h	0.4400	−0.313%	$191K	$979K	15x	as long as short
Aster ONDOUSDT	+0.0190%	4h	0.4405	−0.207%	$736K	$2.3M	20x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4427	+0.285%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4399	−0.340%	$3.1M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4406	−0.172%	$363	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.181%	$281K	$726K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	−0.272%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	−0.214%	$486K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4410	−0.102%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4407	−0.161%	$2K	—	20x	as long as short