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: BingX against edgeX−0.273%70s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as 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−$1221.218% of the position

Long on edgeX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)−0.500%−$50 · spread now −0.273%, 7d avg −0.027%

Together, before fees−0.454%+ Points / potential airdropedgeX: Active · farm board−$45 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: BingX is 0.246% cheaper against edgeX than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 70 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	edgeX ONDOUSDC	0.4415	0.0100	pay 0.0050% / 4h	1h 58m	$5K	$320K	20x
Short	BingX ONDO-USDC	0.4403	0.0100	get 0.0050% / 4h	1h 58m	—	$759K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against edgeX. 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 edgeXbpFee BingXbpOrdersPrice spread, now −0.273%Rate

Funding earned: $0
Price spread: −0.273% → −0.027%: −$24.61
Slippage, 4 orders: −$102.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$146.41
Costs to cover: 1.218%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; BingX: live order book, 76 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 edgeX live order book, 5 min ago	4.54 bp	9.5 bp −$10	16.1 bp −$161	doesn't fit	doesn't fit
Sell BingX live order book, 76 min ago	2.16 bp	53.7 bp −$54	107.0 bp −$1,070	609.1 bp −$60.9K	1006.5 bp −$503.3K

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
dYdX ONDO-USD	0.0000%	1h	0.4403	−0.267%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4399	−0.363%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.465%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	−0.364%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4400	−0.341%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4401	−0.307%	$378K	$833K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4404	−0.245%	$38.6M	$24.1M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4403	−0.273%	$663K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4399	−0.372%	$63.9M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4396	−0.431%	$69.6M	$121.9M	50x	as long as short

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	0.4396	−0.431%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4420	+0.108%	$72K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4402	−0.300%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4400	−0.341%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4402	−0.295%	$46.6M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4401	−0.318%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4402	−0.295%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4403	−0.273%	—	$759K	—
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.016%	$766K	$1.8M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4415	long leg	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4408	−0.163%	$407K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4416	+0.022%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4405	−0.227%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4402	−0.295%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4401	−0.318%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4411	−0.091%	$130K	$486K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4404	−0.260%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4400	−0.330%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4404	−0.261%	$38K	$13K	3x	as long as short
Phemex ONDOUSDT	+0.0151%	4h	0.4398	−0.386%	$4.2M	$7.5M	50x	as long as short
Backpack ONDO_USDC_PERP	+0.0303%	1h	0.4405	−0.221%	$196K	$987K	15x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	+0.076%	$35K	$214K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.158%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4406	−0.200%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	−0.295%	$23K	$349K	25x	as long as short
Lighter ONDO	+0.0480%	1h	0.4408	−0.150%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4398	−0.378%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4401	−0.318%	$2K	—	20x	as long as short