Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1043%/8h= +114.3% APRpaid last 24h +0.305%

Price spread now: Reya against edgeX+0.046%65s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Reya

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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Reya is 0.046% dearer against edgeX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 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	0.4563	0.0100	pay 0.0050% / 4h	14m 33s	$5K	$320K	20x
Short	Reya ONDORUSDPERP	0.4565	0.1143	get 0.0143% / 1h	14m 33s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.046%Rate

Funding earned: $219.13
Price spread: +0.046% → 0.000%: $4.6
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $208.72
Costs to cover: 0.150%
Break-even: 0.3 days

Slippage unknown: edgeX: live order book, 64 min ago; Reya: 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, 64 min ago	4.34 bp	8.8 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	−0.0799%	1h	0.4567	+0.081%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.105%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4569	+0.127%	$35K	$366K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4568	+0.109%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4566	+0.061%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4566	+0.061%	$439K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4571	+0.170%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4568	+0.099%	$68.3M	$226.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4567	+0.083%	$74.2M	$120.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4566	+0.061%	$17.7M	$80.2M	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	0.4567	+0.072%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	+0.058%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4566	+0.061%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4568	+0.105%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4570	+0.148%	$14.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4567	+0.083%	$25.8M	$40.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4567	+0.083%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4571	+0.177%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	+0.101%	$810K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4563	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4569	+0.127%	$422K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	+0.039%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4568	+0.116%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4569	+0.127%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4569	+0.127%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4582	+0.411%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4568	+0.105%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4572	+0.188%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4565	+0.031%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4570	+0.148%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0104%	1h	0.4575	+0.260%	$40.5M	$26.4M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.048%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4568	+0.113%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.280%	$298K	$846K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4567	+0.083%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4568	+0.106%	$545K	—	100x	as long as short
Lighter ONDO	+0.0728%	1h	0.4578	+0.322%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1143%	1h	0.4565	+0.046%	$2K	—	20x
dYdX ONDO-USD	+0.3076%	1h	0.4572	+0.195%	$259K	$132K	5x	as long as short