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: BingX against MEXC+0.022%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1081.076% of the position

Long on MEXC Short on BingX

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)−0.030%−$3 · spread now +0.022%, 7d avg −0.007%

Together, before fees+0.016%+$2 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: BingX is 0.029% dearer against MEXC than usual: you sell high and buy low, +$3 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	MEXC ONDO_USDT	0.4559	0.0100	pay 0.0050% / 4h	1h 10m	$49.1M	$44.9M	200x
Short	BingX ONDO-USDC	0.4560	0.0100	get 0.0050% / 4h	1h 10m	—	$743K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → −0.007%: $2.9
Slippage, 4 orders: −$97.57
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$104.66
Costs to cover: 1.076%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; BingX: live order book, 34 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 MEXC live order book, 4 min ago	1.10 bp	1.1 bp −$1	4.6 bp −$46	18.8 bp −$1,880	106.8 bp −$53.4K
Sell BingX live order book, 34 min ago	2.20 bp	54.5 bp −$55	92.8 bp −$928	689.1 bp −$68.9K	1037.5 bp −$518.7K

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_ONDOUSD	−0.0353%	1h	0.4559	+0.009%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4560	+0.025%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4560	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	−0.033%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4562	+0.063%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4560	+0.027%	$67.7M	$226.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4559	0.000%	$73.8M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4559	0.000%	$17.8M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.638%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4558	−0.021%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4557	−0.044%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4559	long leg	$49.1M	$44.9M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4559	0.000%	$13.7M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4560	+0.022%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4560	+0.022%	—	$743K	—
Variational Omni ONDO	+0.0100%	4h	0.4560	+0.019%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4568	+0.201%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	+0.203%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	+0.132%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4561	+0.050%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4558	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4560	+0.022%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4565	+0.132%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4560	+0.022%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4557	−0.033%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4559	−0.004%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4565	+0.121%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.588%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0145%	1h	0.4563	+0.088%	$230K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.197%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4561	+0.044%	$31K	$432K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.790%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4563	+0.088%	$3.3M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0383%	1h	0.4562	+0.057%	$40.5M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4561	+0.050%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0187%	1h	0.4559	+0.002%	$543K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4569	+0.222%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4558	−0.031%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5221%	1h	0.4560	+0.031%	$258K	$129K	5x	as long as short