Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Extended+0.084%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1521.517% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.084%, 7d avg +0.037%

Together, before fees−0.102%+ Points / potential airdropExtended: Active · farm board−$10 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: SunX is 0.047% dearer against Extended than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4337	0.0104	pay 0.0013% / 1h	48m 36s	$393K	$796K	25x
Short	SunX ONDO-USDT	0.4341	0.0100	get 0.0050% / 4h	1h 48m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$0.84
Price spread: +0.084% → +0.037%: $4.71
Slippage, 4 orders: −$138.7
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.83
Costs to cover: 1.517%
Break-even: never at this rate

Slippage from Extended: live order book, 59 min ago; SunX: live order book, 6 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 Extended live order book, 59 min ago	3.45 bp	6.0 bp −$6	14.7 bp −$147	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	47.35 bp	70.3 bp −$70	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	−0.0146%	1h	0.4338	+0.019%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4337	−0.003%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4339	+0.031%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.318%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4343	+0.119%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.077%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.131%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	+0.067%	$63.0M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4336	−0.031%	$67.6M	$126.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4336	−0.031%	$17.3M	$73.7M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4348	+0.239%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.052%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4337	−0.008%	$12.4M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	−0.008%	$43.1M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	+0.107%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4338	+0.015%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4337	−0.008%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	+0.156%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4337	−0.013%	$642K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.233%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.131%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4327	−0.238%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4341	+0.094%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	+0.061%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4341	+0.084%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4340	+0.061%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4350	+0.292%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4340	+0.061%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4340	+0.060%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4337	long leg	$393K	$796K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4342	+0.107%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4343	+0.140%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4347	+0.223%	$215K	$729K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4349	+0.276%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4345	+0.177%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0418%	1h	0.4345	+0.174%	$36.7M	$27.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4341	+0.084%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4339	+0.030%	$488K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4340	+0.056%	$2K	—	20x	as long as short