Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: MEXC against gTrade (Gains Network)+0.023%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on MEXC

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—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and MEXC is 0.023% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ONDO/USD	0.4415	L +0.0003% / S −0.0008%	pay 0.0000% / 1h	1m 52s	$6K	—	150x
Short	MEXC ONDO_USDT	0.4416	0.0100	get 0.0050% / 4h	2h 01m	$46.8M	$43.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now +0.023%Rate

Funding earned: $20.28
Price spread: +0.023% → 0.000%: $2.31
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $12.59
Costs to cover: 0.100%
Break-even: 2.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	1.13 bp	1.1 bp −$1	5.8 bp −$58	24.5 bp −$2,447	121.2 bp −$60.6K

gTrade (Gains Network): 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 38 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	−0.0362%	1h	0.4412	−0.059%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4403	−0.267%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USDlong	L +0.0003% / S −0.0008%	1h	0.4415	long leg	$6K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.466%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4414	−0.022%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4415	0.000%	$381K	$833K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4419	+0.087%	$673K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4418	+0.066%	$64.1M	$226.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4417	+0.046%	$69.9M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	+0.023%	$17.1M	$72.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.600%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4411	−0.088%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4415	0.000%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4416	+0.023%	$46.8M	$43.8M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4415	0.000%	$13.1M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4416	+0.023%	$25.1M	$39.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4418	+0.068%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4393	−0.504%	$761K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4392	−0.517%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4399	−0.364%	$406K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.588%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4416	+0.021%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4416	+0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4415	0.000%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4424	+0.204%	$130K	$487K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4412	−0.078%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4415	+0.011%	$398K	$790K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4417	+0.055%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0175%	1h	0.4417	+0.048%	$197K	$988K	15x	as long as short
Phemex ONDOUSDT	+0.0187%	4h	0.4414	−0.022%	$4.2M	$7.5M	50x	as long as short
Hyperliquid ONDO	+0.0227%	1h	0.4417	+0.050%	$38.7M	$24.1M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.159%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4393	−0.500%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4416	+0.028%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4416	+0.023%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4415	−0.004%	$487K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4420	+0.118%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4416	+0.023%	$2K	—	20x	as long as short