Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against GRVT+0.697%112s7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$260.258% of the position

Long on GRVT Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.823%−$82 · spread now +0.697%, 7d avg +0.004%

Together, before fees−0.881%+ Points / potential airdropGRVT: Active · farm board−$88 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 0.694% dearer against GRVT than usual: you sell high and buy low, +$69 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 112 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	GRVT ONDO_USDT_Perp	0.4313	0.0100	pay 0.0050% / 4h	2h 17m	$398K	$1.3M	10x
Short	MEXC ONDO_USDT	0.4343	0.0100	get 0.0050% / 4h	2h 17m	$43.3M	$42.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GRVT. 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 GRVTbpFee MEXCbpOrdersPrice spread, now +0.697%Rate

Funding earned: $0
Price spread: +0.697% → +0.004%: $69.35
Slippage, 4 orders: −$16.81
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: $43.54
Costs to cover: 0.258%
Break-even: from the start

Slippage from GRVT: live order book, just now; MEXC: live order book, 1 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 GRVT live order book, just now	3.45 bp	12.1 bp −$12	29.6 bp −$296	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.15 bp	2.4 bp −$2	5.3 bp −$53	18.4 bp −$1,842	106.4 bp −$53.2K

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	−0.0240%	1h	0.4344	+0.716%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4344	+0.722%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0012%	1h	0.4340	+0.638%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.914%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.746%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	+0.634%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4345	+0.739%	$36.2M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	+0.744%	$777K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4343	+0.693%	$62.9M	$237.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	+0.628%	$67.8M	$126.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	+0.697%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	+0.514%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4339	+0.606%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4342	+0.674%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4343	+0.697%	$43.3M	$42.5M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	+0.651%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4342	+0.674%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4344	+0.721%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	+0.727%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	+0.158%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4325	+0.274%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4313	long leg	$398K	$1.3M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4306	−0.161%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	+0.721%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4345	+0.744%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4346	+0.767%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	+0.790%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	+0.976%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4345	+0.744%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4343	+0.693%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4341	+0.643%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4349	+0.828%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0120%	1h	0.4342	+0.683%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4347	+0.790%	$218K	$762K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4311	−0.054%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	+0.651%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4348	+0.813%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4343	+0.697%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4346	+0.773%	$2K	—	20x	as long as short