Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against SunX+0.203%46s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as 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−$1561.562% of the position

Long on SunX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.203%, 7d avg +0.012%

Together, before fees−0.195%+ Points / potential airdropedgeX: Active · farm board−$19 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 0.191% dearer against SunX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 46 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	SunX ONDO-USDT	0.4313	0.0100	pay 0.0050% / 4h	1h 51m	—	$1.3M	20x
Short	edgeX ONDOUSDC	0.4322	0.0100	get 0.0050% / 4h	1h 51m	$5K	$316K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against SunX. 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 SunXbpFee edgeXbpOrdersPrice spread, now +0.203%Rate

Funding earned: $0
Price spread: +0.203% → +0.012%: $19.09
Slippage, 4 orders: −$139.16
Fee SunX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$137.07
Costs to cover: 1.562%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; edgeX: live order book, 59 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 SunX live order book, 6 min ago	47.33 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 59 min ago	4.62 bp	9.1 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit

ONDO on 39 exchanges

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	−0.0326%	1h	0.4314	+0.033%	$2.5M	$7.1M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4315	+0.046%	$21K	$365K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4322	+0.198%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.912%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4315	+0.049%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4313	0.000%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4310	−0.058%	$336K	$820K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4315	+0.054%	$769K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4314	+0.023%	$62.9M	$222.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4312	−0.023%	$67.5M	$116.6M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4314	+0.023%	$17.3M	$66.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4319	+0.137%	$69K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4315	+0.038%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4311	−0.046%	$13.7M	$13.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4313	0.000%	$46.3M	$39.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4310	−0.070%	$13.0M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4313	0.000%	$25.1M	$33.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4313	0.000%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4316	+0.065%	$179K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4321	+0.195%	$799K	$1.8M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4322	+0.203%	$5K	$316K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4322	+0.209%	$399K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4324	+0.255%	$133K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4316	+0.067%	$60K	$1.2M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4313	long leg	—	$1.3M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4315	+0.046%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4324	+0.255%	$105K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4315	+0.046%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4311	−0.047%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4312	−0.022%	$353K	$779K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4316	+0.070%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0144%	1h	0.4316	+0.060%	$355	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0184% / S +0.0251%	1h	0.4315	+0.045%	$364K	—	100x	as long as short
Hyperliquid ONDO	+0.0184%	1h	0.4318	+0.107%	$36.4M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4318	+0.118%	$35K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+0.927%	$214K	$617K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4325	+0.278%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4313	+0.009%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3933%	1h	0.4309	−0.093%	$247K	$159K	5x	as long as short