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: edgeX against KuCoin+0.444%113s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as 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−$550.548% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now +0.444%, 7d avg −0.001%

Together, before fees−0.390%+ Points / potential airdropedgeX: Active · farm board−$39 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: edgeX is 0.445% dearer against KuCoin than usual: you sell high and buy low, +$44 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 113 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	KuCoin ONDOUSDTM	0.4340	0.0100	pay 0.0050% / 4h	3h 13m	$12.6M	$10.5M	50x
Short	edgeX ONDOUSDC	0.4359	0.0100	get 0.0050% / 4h	3h 13m	$4K	$317K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.444%Rate

Funding earned: $0
Price spread: +0.444% → −0.001%: $44.47
Slippage, 4 orders: −$33.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$10.32
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; edgeX: live order book, 39 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 KuCoin live order book, 5 min ago	2.30 bp	14.8 bp −$15	36.2 bp −$362	doesn't fit	doesn't fit
Sell edgeX live order book, 39 min ago	4.53 bp	9.0 bp −$9	20.1 bp −$201	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	−0.0161%	1h	0.4352	+0.281%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4350	+0.226%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.253%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4348	+0.182%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4351	+0.253%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	+0.213%	$359K	$840K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4345	+0.115%	$62.7M	$231.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4343	+0.069%	$67.5M	$124.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4345	+0.115%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4348	+0.191%	$72K	$83K	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	0.4346	+0.128%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4343	+0.069%	$11.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4344	+0.092%	$43.1M	$42.1M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4340	long leg	$12.6M	$10.5M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4346	+0.138%	$24.9M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4346	+0.138%	—	$23.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4353	+0.290%	$183K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	+0.247%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4359	+0.444%	$4K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4355	+0.346%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4356	+0.369%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4352	+0.286%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4352	+0.276%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4353	+0.300%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4367	+0.622%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4355	+0.346%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4345	+0.114%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4344	+0.098%	$391K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4354	+0.323%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0147%	4h	0.4345	+0.115%	$785K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0170%	1h	0.4347	+0.160%	$37.0M	$24.9M	10x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4347	+0.157%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4359	+0.438%	$246K	$724K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4353	+0.309%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.392%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4349	+0.200%	$484K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0670%	1h	0.4354	+0.323%	$18K	$362K	25x	as long as short
dYdX ONDO-USD	+0.0940%	1h	0.4340	+0.008%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4352	+0.282%	$2K	—	20x	as long as short