Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against SunX−0.445%50s7-day average +0.068% · 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—prices read too far apart to compare

costs, in and out, $10k−$1471.473% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.576%+$58 · spread now −0.445%, 7d avg +0.068%

Together, before fees+0.562%+$56 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: Polymarket Perps is 0.512% cheaper against SunX than usual: you would sell low and buy high, −$51 on $10k if it goes back to its 7-day average of +0.068%. The two prices were read 50 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	0.4632	0.0100	pay 0.0050% / 4h	3h 33m	—	$1.4M	20x
Short	Polymarket Perps ONDO-USD	0.4611	0.0100	get 0.0013% / 1h	33m 19s	$74K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.445%Rate

Funding earned: $0
Price spread: −0.445% → +0.068%: −$51.24
Slippage, 4 orders: −$131.35
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$198.59
Costs to cover: 1.473%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Polymarket Perps: live order book, 5 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, 11 min ago	46.98 bp	66.3 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.63 bp	7.5 bp −$8	7.8 bp −$78	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	−0.0864%	1h	0.4623	−0.192%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4620	−0.259%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.666%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.382%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4606	−0.561%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4611	−0.459%	$432K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4616	−0.336%	$729K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4605	−0.593%	$69.0M	$224.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4604	−0.604%	$74.6M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4606	−0.561%	$17.7M	$79.5M	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	0.4629	−0.060%	$76K	$92K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4616	−0.354%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4602	−0.648%	$12.1M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4607	−0.540%	$50.0M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4609	−0.497%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4609	−0.497%	$26.1M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4603	−0.626%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4627	−0.117%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	−0.372%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4629	−0.061%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4631	−0.020%	$429K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.561%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4611	−0.445%	$74K	$1.1M	10x
SunX ONDO-USDTlong	+0.0100%	4h	0.4632	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4624	−0.173%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4648	+0.345%	$136K	$497K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4624	−0.173%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4617	−0.328%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4607	−0.544%	$418K	$842K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4611	−0.464%	$40K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0183%	1h	0.4623	−0.194%	$34K	$363K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4636	+0.084%	$38K	$248K	10x	as long as short
Hyperliquid ONDO	+0.0250%	1h	0.4614	−0.395%	$41.1M	$25.5M	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4621	−0.231%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	−0.022%	$300K	$830K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4632	0.000%	$3.3M	$2.9M	75x	as long as short
Lighter ONDO	+0.0584%	1h	0.4627	−0.104%	$1.5M	$2.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4601	−0.668%	$550K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4609	−0.496%	$2K	—	20x	as long as short