Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against edgeX+0.300%114s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as 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−$400.404% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 3 days (all we have)−0.445%−$44 · spread now +0.300%, 7d avg 0.000%

Together, before fees−0.450%+ 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: Bitget is 0.300% dearer against edgeX than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 114 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	0.4555	0.0100	pay 0.0050% / 4h	1h 27m	$5K	$319K	20x
Short	Bitget ONDOUSDT	0.4569	0.0100	get 0.0050% / 4h	1h 27m	$25.8M	$41.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.300%Rate

Funding earned: $0
Price spread: +0.300% → 0.000%: $29.99
Slippage, 4 orders: −$19.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.41
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from edgeX: live order book, 55 min ago; Bitget: live order book, 1 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, 55 min ago	4.42 bp	8.9 bp −$9	15.6 bp −$156	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	2.20 bp	12.0 bp −$12	17.5 bp −$175	60.7 bp −$6,065	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	−0.0354%	1h	0.4547	−0.174%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4552	−0.070%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.118%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	+0.036%	$430K	$699K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4562	+0.149%	$731K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4560	+0.102%	$67.4M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4567	+0.256%	$74.3M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4567	+0.256%	$17.7M	$81.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4557	+0.036%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4568	+0.275%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4562	+0.146%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4567	+0.256%	$48.0M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4559	+0.080%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4569	+0.300%	$25.8M	$41.8M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4566	+0.234%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.124%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.361%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4555	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4540	−0.337%	$426K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	−0.052%	$161K	$334K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4560	+0.093%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	−0.008%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.161%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.168%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.205%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	+0.238%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4568	+0.270%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	−0.061%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.019%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.278%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.096%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.190%	$300K	$864K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4556	+0.014%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4566	+0.227%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0422%	1h	0.4565	+0.212%	$40.9M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	−0.070%	$568K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4568	+0.278%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4555	−0.010%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3050%	1h	0.4555	−0.016%	$258K	$129K	5x	as long as short