Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.015%

Price spread now: Deribit against edgeX−0.340%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.396%+$40 · spread now −0.340%, 7d avg +0.011%

Together, before fees+0.447%+ Points / potential airdropedgeX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.351% cheaper against edgeX than usual: you would sell low and buy high (spread −0.340% now, against its 7-day average of +0.011%). If the spread goes back, that is −$35 on $10k: about 11 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.051% in total) that is about 47 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4369	0.0100	pay 0.0050% / 4h	3h 22m	$4K	$315K	20x
Short	Deribit ONDO_USDC-PERPETUAL	0.4354	0.0210	get 0.0026% / 1h	22m 43s	$18K	$362K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.340%Rate

Funding earned: $23.1
Price spread: −0.340% → +0.011%: −$35.12
Slippage, 4 orders: −$26.89
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$54.91
Costs to cover: 0.429%
Break-even: 23.6 days

Slippage from edgeX: live order book, 30 min ago; Deribit: live order book, 31 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, 30 min ago	4.53 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell Deribit live order book, 31 min ago	6.80 bp	10.3 bp −$10	doesn't fit	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	−0.0161%	1h	0.4351	−0.404%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	−0.389%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.558%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4354	−0.347%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4353	−0.363%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4353	−0.363%	$359K	$841K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4351	−0.419%	$62.8M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4345	−0.546%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4348	−0.478%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	−0.127%	$72K	$83K	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	0.4352	−0.382%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4348	−0.478%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4349	−0.455%	$43.0M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4352	−0.386%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4350	−0.432%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4350	−0.432%	—	$759K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	−0.349%	$183K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	−0.118%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4369	long leg	$4K	$315K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4364	−0.121%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4368	−0.020%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4353	−0.368%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4354	−0.340%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4354	−0.340%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4360	−0.203%	$129K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4356	−0.295%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4348	−0.485%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4351	−0.419%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4355	−0.313%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0160%	4h	0.4351	−0.409%	$785K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4354	−0.343%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0195%	1h	0.4352	−0.377%	$37.4M	$24.4M	10x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0210%	1h	0.4354	−0.340%	$18K	$362K	25x
dYdX ONDO-USD	+0.0216%	1h	0.4349	−0.460%	$246K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	−0.020%	$248K	$725K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4368	−0.027%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	−0.272%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4352	−0.397%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4353	−0.365%	$2K	—	20x	as long as short