Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h +1.302%

Price spread now: dYdX against MEXC+0.142%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs+$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$870.865% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.780%+$278 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.142%, 7d avg −0.011%

Together, before fees+2.657%+$266 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.153% dearer against MEXC than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of −0.011%): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.4 days. Mind the row above: over the last 7 days funding on this pair paid +2.780%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4307	0.0100	pay 0.0050% / 4h	1h 32m	$42.5M	$42.6M	200x
Short	dYdX ONDO-USD	0.4313	0.0005	get 0.0001% / 1h	32m 30s	$242K	$141K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$19.93
Price spread: +0.142% → −0.011%: $15.33
Slippage, 4 orders: −$76.55
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$91.14
Costs to cover: 0.865%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; dYdX: live order book, 12 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, 1 min ago	1.16 bp	1.2 bp −$1	3.9 bp −$39	14.7 bp −$1,468	90.6 bp −$45.3K
Sell dYdX live order book, 12 min ago	33.44 bp	45.8 bp −$46	150.4 bp −$1,504	213.1 bp −$21.3K	716.4 bp −$358.2K

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	−0.0147%	1h	0.4314	+0.173%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4316	+0.209%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4314	+0.173%	$7K	—	150x	as long as short
dYdX ONDO-USDshort	+0.0005%	1h	0.4313	+0.142%	$242K	$141K	5x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.060%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4319	+0.274%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4306	−0.023%	$345K	$899K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4311	+0.093%	$772K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4310	+0.070%	$62.4M	$236.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4308	+0.023%	$67.4M	$125.0M	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	0.4309	+0.046%	$17.1M	$72.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4318	+0.248%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4317	+0.234%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4310	+0.070%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4307	long leg	$42.5M	$42.6M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4311	+0.093%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4307	0.000%	$24.6M	$39.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4308	+0.023%	—	$772K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4316	+0.221%	$171K	$996K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4310	+0.064%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.318%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	+0.216%	$406K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4321	+0.325%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4319	+0.286%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4314	+0.163%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4319	+0.279%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4316	+0.209%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4326	+0.441%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4317	+0.232%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4308	+0.026%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4307	+0.011%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4318	+0.254%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0111%	1h	0.4318	+0.248%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4311	+0.095%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.464%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4316	+0.211%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.325%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	+0.144%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4316	+0.203%	$2K	—	20x	as long as short