Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.018%

Price spread now: edgeX against Deribit+0.041%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

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

costs, in and out, $10k−$400.396% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)−0.183%−$18 · spread now +0.041%, 7d avg −0.008%

Together, before fees−0.242%+ Points / potential airdropedgeX: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.049% dearer against Deribit than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.008%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.059% in total) that is about 5.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4322	0.0213	pay 0.0027% / 1h	1m 31s	$18K	$351K	25x
Short	edgeX ONDOUSDC	0.4324	0.0100	get 0.0050% / 4h	1h 01m	$5K	$317K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$23.73
Price spread: +0.041% → −0.008%: $4.9
Slippage, 4 orders: −$23.61
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$58.45
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Deribit: live order book, 42 min ago; edgeX: live order book, 42 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 Deribit live order book, 42 min ago	6.92 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 42 min ago	4.62 bp	9.6 bp −$10	17.1 bp −$171	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	−0.0146%	1h	0.4321	−0.032%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4320	−0.049%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.692%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4326	+0.097%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4321	−0.012%	$347K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4323	+0.012%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4321	−0.024%	$62.5M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4319	−0.069%	$67.7M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4321	−0.023%	$17.2M	$71.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4328	+0.127%	$71K	$81K	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	0.4322	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4320	−0.046%	$12.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4322	0.000%	$43.3M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4321	−0.023%	$11.9M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4322	0.000%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4322	0.000%	—	$769K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4323	+0.016%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4331	+0.202%	$735K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4324	+0.041%	$5K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	+0.022%	$401K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4326	+0.093%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4322	0.000%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4320	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4323	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4323	+0.023%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.185%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4323	+0.023%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4320	−0.041%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4320	−0.040%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4324	+0.046%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0213%	1h	0.4322	long leg	$18K	$351K	25x
01 Exchange ONDOUSD	+0.0240%	1h	0.4321	−0.012%	$356	$2K	10x	as long as short
dYdX ONDO-USD	+0.0252%	1h	0.4324	+0.038%	$243K	$156K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	+0.139%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0273%	1h	0.4326	+0.088%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4326	+0.095%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4323	+0.023%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4320	−0.051%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4321	−0.012%	$2K	—	20x	as long as short