Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −1.617%

Price spread now: edgeX against dYdX+0.431%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$594as in the Funding arb table

Net, price: spread back to 7d avg − costs−$274as in the Price arb table

costs, in and out, $10k−$3163.158% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−2.777%−$278 on $10k

Price spread, last 3 days (all we have)−0.393%−$39 · spread now +0.431%, 7d avg +0.014%

Together, before fees−3.170%+ Points / potential airdropedgeX: Active · farm board−$317 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.416% dearer against dYdX than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of +0.014%. Mind the row above: over the last 7 days funding on this pair cost −2.777%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4576	0	get 0.0000% / 1h	4m 58s	$259K	$131K	5x
Short	edgeX ONDOUSDC	0.4596	0.0100	get 0.0050% / 4h	3h 04m	$5K	$319K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now +0.431%Rate

Funding earned: $21
Price spread: +0.431% → +0.014%: $41.65
Slippage, 4 orders: −$296.85
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$253.2
Costs to cover: 3.158%
Break-even: 91.4 days

Slippage from dYdX: live order book, 4 min ago; edgeX: live order book, 3 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 dYdX live order book, 4 min ago	130.76 bp	135.8 bp −$136	175.9 bp −$1,759	464.6 bp −$46.5K	1447.9 bp −$724.0K
Sell edgeX live order book, 3 min ago	4.35 bp	8.9 bp −$9	15.0 bp −$150	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	−0.0873%	1h	0.4577	+0.008%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USDlong	0.0000%	1h	0.4576	long leg	$259K	$131K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4575	−0.030%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.183%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4576	−0.008%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4576	+0.003%	$429K	$705K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4576	−0.008%	$68.5M	$221.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4575	−0.030%	$73.7M	$118.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4576	−0.008%	$17.5M	$77.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4577	+0.018%	$73K	$92K	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	0.4575	−0.022%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4576	−0.008%	$12.0M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4589	+0.276%	$49.3M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4577	+0.013%	$14.2M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4587	+0.232%	$26.1M	$38.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4577	+0.013%	—	$744K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	−0.016%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4596	+0.431%	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.543%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.603%	$172K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4579	+0.053%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4577	+0.013%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4579	+0.057%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4589	+0.276%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4579	+0.057%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4576	−0.001%	$7K	—	10x	as long as short
Aster ONDOUSDT	+0.0101%	4h	0.4579	+0.057%	$722K	$2.1M	20x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4586	+0.209%	$415K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4580	+0.079%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0110%	1h	0.4579	+0.048%	$230K	$999K	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+0.201%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4580	+0.083%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4596	+0.429%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4580	+0.079%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0383%	1h	0.4583	+0.138%	$40.8M	$24.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4579	+0.057%	$33K	$340K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4575	−0.024%	$546K	—	100x	as long as short
Lighter ONDO	+0.0696%	1h	0.4586	+0.206%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4577	+0.010%	$2K	—	20x	as long as short