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 0.000%

Price spread now: edgeX against Bybit−0.232%61s7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as 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−$340.339% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+1.005%+$101 · spread now −0.232%, 7d avg +0.052%

Together, before fees+1.017%+ Points / potential airdropedgeX: Active · farm board+$102 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 0.285% cheaper against Bybit than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.052%. The two prices were read 61 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	Bybit ONDOUSDT	0.4398	0.0100	pay 0.0050% / 4h	1h 54m	$69.6M	$121.9M	50x
Short	edgeX ONDOUSDC	0.4388	0.0100	get 0.0050% / 4h	1h 54m	$5K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −0.232%Rate

Funding earned: $0
Price spread: −0.232% → +0.052%: −$28.46
Slippage, 4 orders: −$13.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$62.38
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; edgeX: live order book, 9 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 Bybit live order book, 5 min ago	1.13 bp	8.4 bp −$8	15.0 bp −$150	52.7 bp −$5,274	doesn't fit
Sell edgeX live order book, 9 min ago	4.54 bp	9.0 bp −$9	15.6 bp −$156	doesn't fit	doesn't fit

ONDO on 38 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
ApeX Omni ONDOUSDT	−0.0069%	1h	0.4382	−0.364%	$135K	$353K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	+0.028%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4394	−0.090%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.865%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4394	−0.090%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4394	−0.091%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4399	+0.017%	$376K	$832K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4401	+0.071%	$670K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4399	+0.023%	$63.9M	$225.0M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4398	long leg	$69.6M	$121.9M	50x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4398	0.000%	$17.0M	$71.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.155%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4398	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4398	0.000%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4400	+0.045%	$46.6M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4400	+0.045%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4399	+0.023%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4400	+0.045%	—	$761K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4418	+0.450%	$712K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4388	−0.232%	$5K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.187%	$405K	$978K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4401	+0.064%	$78K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4397	−0.023%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4408	+0.227%	$130K	$481K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4398	+0.008%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4398	−0.001%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4398	0.000%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0134%	1h	0.4403	+0.114%	$38.5M	$24.0M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0186%	1h	0.4399	+0.018%	$191K	$983K	15x	as long as short
Phemex ONDOUSDT	+0.0195%	4h	0.4397	−0.023%	$4.2M	$7.5M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4395	−0.068%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4396	−0.043%	$35K	$225K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.546%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4402	+0.095%	$362	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4394	−0.088%	$485K	—	100x	as long as short
Lighter ONDO	+0.0592%	1h	0.4407	+0.205%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4398	−0.001%	$2K	—	20x	as long as short