Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.021%

Price spread now: Deribit against MEXC+0.023%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.023%, 7d avg +0.017%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4369	0.0100	pay 0.0050% / 4h	3h 12m	$43.6M	$42.5M	200x
Short	Deribit ONDO_USDC-PERPETUAL	0.4370	0.0208	get 0.0026% / 1h	12m 11s	$29K	$358K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $22.68
Price spread: +0.023% → +0.017%: $0.63
Slippage, 4 orders: −$17.51
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$1.19
Costs to cover: 0.245%
Break-even: 7.4 days

Slippage from MEXC: live order book, 2 min ago; Deribit: live order book, 21 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, 2 min ago	1.14 bp	2.5 bp −$2	5.3 bp −$53	17.9 bp −$1,785	113.2 bp −$56.6K
Sell Deribit live order book, 21 min ago	5.78 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	−0.0175%	1h	0.4368	−0.013%	$2.5M	$7.5M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4368	−0.021%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.555%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4374	+0.105%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4367	−0.046%	$342K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4371	+0.041%	$762K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4370	+0.012%	$63.7M	$230.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4366	−0.069%	$68.4M	$120.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4370	+0.023%	$17.5M	$70.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4378	+0.199%	$72K	$78K	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	0.4364	−0.108%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4369	0.000%	$13.5M	$15.3M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4369	long leg	$43.6M	$42.5M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4368	−0.023%	$12.9M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4370	+0.023%	$25.4M	$35.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4370	+0.023%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4370	+0.032%	$184K	$998K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4371	+0.043%	$741K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4370	+0.032%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4371	+0.036%	$409K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4371	+0.046%	$135K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4366	−0.069%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4370	+0.023%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4366	−0.069%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4369	0.000%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4370	+0.023%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4369	0.000%	$4.3M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4364	−0.113%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4368	−0.013%	$363K	$814K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4370	+0.023%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0208%	1h	0.4370	+0.023%	$29K	$358K	25x
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4376	+0.160%	$216K	$707K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4367	−0.053%	$359	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4375	+0.140%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	−0.069%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0436%	1h	0.4374	+0.124%	$36.8M	$28.0M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0583% / S −0.0208%	1h	0.4368	−0.017%	$505K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4363	−0.144%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3080%	1h	0.4367	−0.039%	$250K	$159K	5x	as long as short