Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0962%/8h= +105.4% APRpaid last 24h −0.134%

Price spread now: MEXC against Kraken Futures+0.001%7-day average −0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.001%, 7d avg −0.074%

Together, before fees−0.389%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and MEXC is 0.075% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.074%. Mind the row above: over the last 7 days funding on this pair cost −0.339%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.339% in total (about -17.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4632	−0.0862	get 0.0108% / 1h	35m 05s	$2.8M	$8.0M	50x
Short	MEXC ONDO_USDT	0.4632	0.0100	get 0.0050% / 4h	3h 35m	$50.2M	$41.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now +0.001%Rate

Funding earned: $202.08
Price spread: +0.001% → −0.074%: $7.5
Slippage, 4 orders: −$30.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $169.33
Costs to cover: 0.402%
Break-even: 1.1 days

Slippage from Kraken Futures: live order book, 4 min ago; MEXC: live order book, 4 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 Kraken Futures live order book, 4 min ago	4.38 bp	20.2 bp −$20	27.6 bp −$276	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.09 bp	1.1 bp −$1	5.5 bp −$55	19.1 bp −$1,909	107.4 bp −$53.7K

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_ONDOUSDlong	−0.0862%	1h	0.4632	long leg	$2.8M	$8.0M	50x
dYdX ONDO-USD	0.0000%	1h	0.4625	−0.142%	$262K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4627	−0.104%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.381%	$888	$216K	5.5x	as long as short
Gate ONDO_USDT	+0.0094%	4h	0.4629	−0.064%	$12.1M	$16.6M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4628	−0.085%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	−0.107%	$434K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4636	+0.095%	$732K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4636	+0.090%	$69.4M	$225.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4636	+0.088%	$75.2M	$120.3M	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	0.4635	+0.066%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4622	−0.217%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4624	−0.176%	—	—	5x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4632	+0.001%	$50.2M	$41.6M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4633	+0.023%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4638	+0.131%	$26.3M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4630	−0.042%	—	$742K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4632	+0.005%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	−0.370%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4577	−1.189%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4573	−1.265%	$423K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.560%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4631	−0.016%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4632	+0.001%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4632	+0.001%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4635	+0.066%	$136K	$497K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4631	−0.020%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4628	−0.087%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4637	+0.110%	$412K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4634	+0.035%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0228%	1h	0.4635	+0.064%	$41.2M	$25.4M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	−1.162%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4631	−0.016%	$381	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4627	−0.107%	$300K	$828K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4632	+0.001%	$3.3M	$2.9M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0398%	1h	0.4630	−0.042%	$34K	$363K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0188%	1h	0.4628	−0.096%	$552K	—	100x	as long as short
Lighter ONDO	+0.0600%	1h	0.4642	+0.211%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4627	−0.112%	$2K	—	20x	as long as short