Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: MEXC against BingX−0.131%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1071.070% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.131%, 7d avg +0.007%

Together, before fees+0.092%+$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: MEXC is 0.138% cheaper against BingX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4597	0.0100	pay 0.0050% / 4h	1h 38m	—	$744K	—
Short	MEXC ONDO_USDT	0.4591	0.0100	get 0.0050% / 4h	1h 38m	$48.2M	$44.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → +0.007%: −$13.76
Slippage, 4 orders: −$97.04
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$120.8
Costs to cover: 1.070%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; MEXC: 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 BingX live order book, 5 min ago	2.20 bp	49.5 bp −$50	99.3 bp −$993	504.8 bp −$50.5K	874.0 bp −$437.0K
Sell MEXC live order book, 5 min ago	1.10 bp	1.9 bp −$2	4.8 bp −$48	19.2 bp −$1,918	118.2 bp −$59.1K

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	−0.0350%	1h	0.4591	−0.140%	$2.8M	$7.9M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4606	+0.196%	$16K	$385K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4610	+0.290%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4602	+0.109%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4613	+0.348%	$439K	$690K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4596	−0.013%	$746K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4591	−0.131%	$67.6M	$223.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4585	−0.261%	$74.5M	$119.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4580	−0.370%	$17.9M	$81.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4626	+0.637%	$73K	$87K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4608	+0.244%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4598	+0.022%	$12.0M	$18.2M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4591	−0.131%	$48.2M	$44.3M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4600	+0.065%	$13.8M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4593	−0.087%	$26.0M	$41.6M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4597	long leg	—	$744K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4594	−0.059%	$209K	$985K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−1.110%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4547	−1.094%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4547	−1.097%	$420K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4616	+0.407%	$98K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4624	+0.587%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4596	−0.022%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	+0.348%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4593	−0.087%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4582	−0.327%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4602	+0.108%	$407K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4606	+0.196%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−0.951%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4601	+0.087%	$894	$181K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0160%	1h	0.4546	−1.109%	$160K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4597	0.000%	$302K	$869K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4592	−0.109%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4618	+0.457%	$380	$2K	10x	as long as short
Hyperliquid ONDO	+0.0529%	1h	0.4601	+0.078%	$41.2M	$27.4M	10x	as long as short
Lighter ONDO	+0.0568%	1h	0.4597	+0.009%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0598% / S −0.0191%	1h	0.4609	+0.271%	$555K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4616	+0.418%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1246%	1h	0.4588	−0.190%	$260K	$130K	5x	as long as short