Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Polymarket Perps−0.023%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as in the Funding arb table

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

costs, in and out, $10k−$1511.508% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.023%, 7d avg −0.058%

Together, before fees−0.094%−$9 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 0.035% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4329	0.0100	pay 0.0013% / 1h	46m 23s	$60K	$1.4M	10x
Short	SunX ONDO-USDT	0.4328	0.0100	get 0.0050% / 4h	1h 46m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Polymarket Perps. 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 Polymarket PerpsbpFee SunXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → −0.058%: $3.52
Slippage, 4 orders: −$134.79
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.27
Costs to cover: 1.508%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; SunX: live order book, 8 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 Polymarket Perps live order book, 2 min ago	1.50 bp	5.5 bp −$5	5.6 bp −$56	doesn't fit	doesn't fit
Sell SunX live order book, 8 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	0.4326	−0.058%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4330	+0.012%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4327	−0.046%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.521%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4332	+0.062%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4329	−0.006%	$346K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4331	+0.050%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4328	−0.023%	$62.9M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4326	−0.069%	$67.4M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4330	+0.023%	$17.2M	$73.6M	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	+0.432%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4327	−0.056%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4327	−0.046%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4327	−0.046%	$43.0M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4327	−0.046%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4327	−0.046%	$24.8M	$39.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4328	−0.023%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4331	+0.042%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4337	+0.180%	$642K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4342	+0.303%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.323%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4342	+0.300%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4329	long leg	$60K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4327	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4328	−0.023%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4331	+0.046%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.254%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	+0.069%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4328	−0.017%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4327	−0.046%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4330	+0.012%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0200%	1h	0.4327	−0.037%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4328	−0.023%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4349	+0.469%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4334	+0.116%	$3.2M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0373%	1h	0.4329	+0.005%	$36.4M	$27.3M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4329	0.000%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4327	−0.050%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4327	−0.046%	$2K	—	20x	as long as short