Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against edgeX−0.100%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.298%+$30 · spread now −0.100%, 7d avg +0.050%

Together, before fees+0.351%+ Points / potential airdropedgeX: Active · farm board+$35 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: Polymarket Perps is 0.150% cheaper against edgeX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4302	0.0100	pay 0.0050% / 4h	2h 30m	$4K	$317K	20x
Short	Polymarket Perps ONDO-USD	0.4298	0.0100	get 0.0013% / 1h	30m 34s	$67K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.100%Rate

Funding earned: $0
Price spread: −0.100% → +0.050%: −$15.01
Slippage, 4 orders: −$17.74
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$49.75
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from edgeX: live order book, 18 min ago; Polymarket Perps: 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 edgeX live order book, 18 min ago	4.61 bp	9.1 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.90 bp	9.6 bp −$10	9.7 bp −$97	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	−0.0243%	1h	0.4294	−0.185%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4296	−0.144%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0017%	1h	0.4296	−0.152%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.179%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0072%	1h	0.4301	−0.035%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4302	−0.004%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4299	−0.068%	$350K	$876K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4299	−0.074%	$35.8M	$26.2M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4300	−0.043%	$774K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	−0.028%	$61.9M	$235.9M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4297	−0.121%	$67.0M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4299	−0.074%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4316	+0.326%	$70K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4299	−0.078%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4298	−0.097%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4300	−0.051%	$42.4M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4297	−0.121%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4299	−0.074%	$24.6M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4298	−0.097%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4298	−0.088%	$176K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4295	−0.171%	$649K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4302	long leg	$4K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4302	+0.007%	$402K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4300	−0.051%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4298	−0.100%	$67K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4297	−0.121%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4299	−0.074%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4297	−0.121%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4306	+0.089%	$127K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4297	−0.121%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4299	−0.085%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4298	−0.107%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4299	−0.078%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.018%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4306	+0.089%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4302	−0.004%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0449%	1h	0.4297	−0.121%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4296	−0.147%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4298	−0.108%	$2K	—	20x	as long as short