Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against edgeX−0.316%64s7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as 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−$330.327% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.516%+$52 · spread now −0.316%, 7d avg +0.068%

Together, before fees+0.569%+ Points / potential airdropedgeX: Active · farm board+$57 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: Polymarket Perps is 0.384% cheaper against edgeX than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of +0.068%. The two prices were read 64 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	0.4596	0.0100	pay 0.0050% / 4h	3h 03m	$5K	$319K	20x
Short	Polymarket Perps ONDO-USD	0.4582	0.0100	get 0.0013% / 1h	3m 41s	$74K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.316%Rate

Funding earned: $0
Price spread: −0.316% → +0.068%: −$38.36
Slippage, 4 orders: −$15.69
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$71.05
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Polymarket Perps: 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, 4 min ago	4.35 bp	8.9 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	3.05 bp	7.0 bp −$7	7.4 bp −$74	doesn't fit	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	−0.0874%	1h	0.4570	−0.558%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4553	−0.933%	$258K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4572	−0.524%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4577	−0.414%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.612%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4575	−0.459%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4582	−0.307%	$430K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4561	−0.757%	$719K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4554	−0.925%	$68.2M	$221.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4548	−1.047%	$73.3M	$119.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4546	−1.090%	$17.4M	$76.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4577	−0.411%	$73K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4581	−0.325%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4557	−0.851%	$12.0M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4546	−1.090%	$48.7M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4552	−0.960%	$14.1M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4553	−0.938%	$25.8M	$38.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4555	−0.894%	—	$744K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	−0.445%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4596	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.112%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.172%	$172K	$332K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4582	−0.316%	$74K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4577	−0.416%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4572	−0.524%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4585	−0.242%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4569	−0.590%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4552	−0.963%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4561	−0.774%	$415K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	−0.470%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0108%	1h	0.4567	−0.631%	$229K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	−0.229%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4587	−0.198%	$378	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4596	−0.002%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4580	−0.350%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0380%	1h	0.4559	−0.803%	$40.6M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4576	−0.434%	$546K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4562	−0.736%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4578	−0.395%	$2K	—	20x	as long as short