Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1052%/8h= −115.2% APRpaid last 24h −0.308%

Price spread now: edgeX against Reya−0.192%7-day average — · you buy dearer than you sell

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

Long on Reya 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 airdropReya: Active · edgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and edgeX is 0.192% cheaper against Reya than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4387	0.1152	pay 0.0144% / 1h	13m 32s	$2K	—	20x
Short	edgeX ONDOUSDC	0.4378	0.0100	get 0.0050% / 4h	13m 32s	$4K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Reya. 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 ReyabpFee edgeXbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$220.95
Price spread: −0.192% → 0.000%: −$19.19
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$255.14
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; edgeX: live order book, 45 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 Reya no order-book sample	—	—	—	—	—
Sell edgeX live order book, 45 min ago	4.59 bp	9.1 bp −$9	15.3 bp −$153	doesn't fit	doesn't fit

Reya: 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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4385	−0.044%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4375	−0.260%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.132%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4387	+0.004%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4386	−0.017%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4386	−0.017%	$363K	$847K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4390	+0.065%	$37.8M	$24.8M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4387	+0.017%	$63.4M	$231.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4384	−0.062%	$67.8M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4385	−0.039%	$17.1M	$73.2M	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	0.4385	−0.035%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4385	−0.034%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4383	−0.085%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4386	−0.017%	$44.4M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4383	−0.085%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4386	−0.017%	$25.2M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4385	−0.039%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4377	−0.231%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4377	−0.228%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4378	−0.192%	$4K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	−0.197%	$408K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.199%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4385	−0.035%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4377	−0.222%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4378	−0.199%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4389	+0.052%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4375	−0.267%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4386	−0.012%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4386	−0.021%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4380	−0.165%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4387	−0.001%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0217%	4h	0.4387	+0.006%	$758K	$2.5M	20x	as long as short
dYdX ONDO-USD	+0.0257%	1h	0.4382	−0.108%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4379	−0.176%	$271K	$727K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4378	−0.199%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4382	−0.101%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0436%	1h	0.4379	−0.176%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4384	−0.057%	$521K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1152%	1h	0.4387	long leg	$2K	—	20x