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 Phemex+0.132%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.132%, 7d avg −0.001%

Together, before fees−0.011%+ Points / potential airdropedgeX: Active · farm board−$1 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 0.133% dearer against Phemex than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4351	0.0100	pay 0.0050% / 4h	3h 18m	$4.2M	$8.0M	50x
Short	edgeX ONDOUSDC	0.4357	0.0100	get 0.0050% / 4h	3h 18m	$4K	$316K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phemex. 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 PhemexbpFee edgeXbpOrdersPrice spread, now +0.132%Rate

Funding earned: $0
Price spread: +0.132% → −0.001%: $13.27
Slippage, 4 orders: −$27.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$35.42
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; edgeX: live order book, 35 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 Phemex live order book, 5 min ago	5.74 bp	15.6 bp −$16	23.2 bp −$232	doesn't fit	doesn't fit
Sell edgeX live order book, 35 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	0.4350	−0.014%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4355	+0.094%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.987%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4354	+0.069%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4349	−0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4355	+0.103%	$359K	$840K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4353	+0.035%	$62.8M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4352	+0.023%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4356	+0.115%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4345	−0.145%	$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	0.4351	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4350	−0.023%	$11.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4355	+0.092%	$43.1M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4355	+0.092%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4356	+0.115%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4350	−0.023%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4353	+0.053%	$183K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4352	+0.017%	$702K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4357	+0.132%	$4K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	+0.045%	$403K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4359	+0.184%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4358	+0.149%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4351	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4352	+0.023%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4361	+0.230%	$129K	$423K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4351	long leg	$4.2M	$8.0M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4351	−0.005%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4350	−0.022%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4352	+0.027%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0152%	4h	0.4353	+0.052%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4353	+0.055%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0186%	1h	0.4358	+0.170%	$37.4M	$24.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4362	+0.253%	$246K	$724K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4361	+0.228%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4353	+0.046%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4351	0.000%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4348	−0.080%	$484K	—	100x	as long as short
dYdX ONDO-USD	+0.0577%	1h	0.4350	−0.018%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4356	+0.126%	$2K	—	20x	as long as short