Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against KuCoin+0.385%98s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as 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−$520.525% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 4 days (all we have)−0.369%−$37 · spread now +0.385%, 7d avg −0.004%

Together, before fees−0.429%+ Points / potential airdropedgeX: Active · farm board−$43 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: edgeX is 0.389% dearer against KuCoin than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 98 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	KuCoin ONDOUSDTM	0.4291	0.0100	pay 0.0050% / 4h	2h 25m	$11.9M	$10.6M	50x
Short	edgeX ONDOUSDC	0.4308	0.0100	get 0.0050% / 4h	2h 25m	$4K	$314K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.385%Rate

Funding earned: $0
Price spread: +0.385% → −0.004%: $38.9
Slippage, 4 orders: −$31.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$13.57
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; edgeX: live order book, 22 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 KuCoin live order book, 3 min ago	2.33 bp	18.3 bp −$18	49.1 bp −$491	doesn't fit	doesn't fit
Sell edgeX live order book, 22 min ago	4.61 bp	9.1 bp −$9	15.6 bp −$156	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	+0.067%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4295	+0.087%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0014%	1h	0.4297	+0.144%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.455%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0088%	1h	0.4296	+0.126%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4300	+0.219%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4298	+0.175%	$348K	$877K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4296	+0.128%	$35.8M	$26.5M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4303	+0.278%	$769K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	+0.233%	$61.9M	$236.3M	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	0.4301	+0.233%	$67.1M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4305	+0.326%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4295	+0.105%	$70K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4297	+0.134%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4293	+0.047%	$12.0M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4294	+0.070%	$42.3M	$42.4M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4291	long leg	$11.9M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4295	+0.093%	$24.6M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4294	+0.070%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4294	+0.077%	$176K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4294	+0.065%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4308	+0.385%	$4K	$314K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	+0.330%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4307	+0.373%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4298	+0.158%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4295	+0.093%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4299	+0.186%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4295	+0.093%	$446	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4305	+0.326%	$127K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4298	+0.163%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4296	+0.126%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4294	+0.059%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4298	+0.173%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.282%	$218K	$763K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4309	+0.415%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4301	+0.233%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0449%	1h	0.4297	+0.140%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4294	+0.081%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4297	+0.135%	$2K	—	20x	as long as short