Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: edgeX against gTrade (Gains Network)+0.110%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.110% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ONDO/USD	0.4336	L +0.0003% / S −0.0011%	pay 0.0000% / 1h	15m 01s	$7K	—	150x
Short	edgeX ONDOUSDC	0.4340	0.0100	get 0.0050% / 4h	1h 15m	$5K	$317K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.110%Rate

Funding earned: $20.28
Price spread: +0.110% → 0.000%: $10.95
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $12.23
Costs to cover: 0.190%
Break-even: 2.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; edgeX: live order book, 28 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell edgeX live order book, 28 min ago	4.62 bp	9.6 bp −$10	17.1 bp −$171	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.054%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0011%	1h	0.4336	long leg	$7K	—	150x
dYdX ONDO-USD	+0.0014%	1h	0.4339	+0.065%	$244K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.357%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4344	+0.193%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	+0.110%	$348K	$892K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4340	+0.098%	$780K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4340	+0.107%	$62.8M	$234.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4339	+0.075%	$68.0M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4340	+0.098%	$17.3M	$72.4M	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	0.4336	+0.001%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4338	+0.053%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4339	+0.075%	$12.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4340	+0.098%	$43.7M	$42.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4339	+0.075%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	+0.121%	$24.8M	$37.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4341	+0.121%	—	$776K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4340	+0.110%	$176K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	+0.069%	$723K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4340	+0.110%	$5K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	+0.116%	$403K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4342	+0.144%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	+0.091%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4337	+0.029%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4339	+0.075%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4341	+0.121%	$451	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4348	+0.283%	$129K	$399K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4339	+0.075%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4339	+0.069%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4339	+0.081%	$358K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4342	+0.135%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0213%	1h	0.4345	+0.220%	$36.5M	$27.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4342	+0.149%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4342	+0.144%	$215K	$728K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4344	+0.179%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.075%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0442%	1h	0.4341	+0.121%	$18K	$351K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4335	−0.015%	$496K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4339	+0.069%	$2K	—	20x	as long as short