Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +1.382%

Price spread now: dYdX against edgeX−0.015%51s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as 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−$2782.782% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.780%+$278 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.015%, 7d avg −0.028%

Together, before fees+2.739%+ Points / potential airdropedgeX: Active · farm board+$274 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +2.780%, so the current rate has only just turned against you. The two prices were read 51 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	0.4337	0.0100	pay 0.0050% / 4h	2h 48m	$4K	$316K	20x
Short	dYdX ONDO-USD	0.4336	0.0044	get 0.0006% / 1h	48m 30s	$248K	$133K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$11.68
Price spread: −0.015% → −0.028%: $1.36
Slippage, 4 orders: −$259.21
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$288.53
Costs to cover: 2.782%
Break-even: never at this rate

Slippage from edgeX: live order book, 65 min ago; dYdX: 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, 65 min ago	4.53 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell dYdX live order book, 1 min ago	24.14 bp	224.4 bp −$224	226.6 bp −$2,266	233.0 bp −$23.3K	821.3 bp −$410.6K

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	−0.0241%	1h	0.4336	−0.015%	$2.6M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4341	+0.102%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.330%	$888	$216K	5.5x	as long as short
dYdX ONDO-USDshort	+0.0044%	1h	0.4336	−0.015%	$248K	$133K	5x
01 Exchange ONDOUSD	+0.0056%	1h	0.4343	+0.146%	$357	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.137%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4338	+0.026%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4339	+0.055%	$352K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4343	+0.137%	$36.5M	$25.7M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4344	+0.171%	$778K	$2.6M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4343	+0.150%	$62.6M	$234.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	+0.072%	$67.5M	$125.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	+0.118%	$17.1M	$72.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4333	−0.089%	$72K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4342	+0.118%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4340	+0.072%	$12.1M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4343	+0.141%	$43.5M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	+0.095%	$12.2M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4342	+0.118%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4343	+0.141%	—	$23.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4338	+0.026%	$176K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	+0.043%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4337	long leg	$4K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	+0.102%	$400K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4338	+0.026%	$134K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4343	+0.139%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4341	+0.095%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4339	+0.049%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4346	+0.211%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4338	+0.026%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4339	+0.052%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4341	+0.097%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	+0.095%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4340	+0.072%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.211%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.218%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.049%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4341	+0.105%	$488K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4341	+0.107%	$2K	—	20x	as long as short