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: edgeX against MEXC+0.347%83s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as 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−$210.209% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.295%−$29 · spread now +0.347%, 7d avg +0.006%

Together, before fees−0.295%+ Points / potential airdropedgeX: Active · farm board−$29 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: edgeX is 0.340% dearer against MEXC than usual: you sell high and buy low, +$34 on $10k if it goes back to its 7-day average of +0.006%. The two prices were read 83 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	MEXC ONDO_USDT	0.4574	0.0100	pay 0.0050% / 4h	48m 04s	$49.4M	$43.1M	200x
Short	edgeX ONDOUSDC	0.4590	0.0100	get 0.0050% / 4h	48m 04s	$5K	$319K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.347%Rate

Funding earned: $0
Price spread: +0.347% → +0.006%: $34.02
Slippage, 4 orders: −$11.86
Fee MEXC: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $13.16
Costs to cover: 0.209%
Break-even: from the start

Slippage from MEXC: live order book, 1 min ago; edgeX: live order book, 30 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	1.09 bp	1.1 bp −$1	4.3 bp −$43	18.9 bp −$1,888	112.1 bp −$56.0K
Sell edgeX live order book, 30 min ago	4.34 bp	8.8 bp −$9	15.0 bp −$150	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	−0.0798%	1h	0.4573	−0.029%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.131%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4572	−0.040%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4573	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4569	−0.109%	$431K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4574	0.000%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4572	−0.044%	$68.4M	$227.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4571	−0.066%	$74.1M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4570	−0.087%	$17.8M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4597	+0.501%	$75K	$89K	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	0.4571	−0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4571	−0.066%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4574	long leg	$49.4M	$43.1M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4574	0.000%	$13.8M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4573	−0.022%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4573	−0.022%	—	$741K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.283%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4590	+0.347%	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4590	+0.351%	$434K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.306%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	+0.013%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4575	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4573	−0.022%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4585	+0.240%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4574	0.000%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4571	−0.068%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4570	−0.084%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4576	+0.033%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0187%	1h	0.4574	0.000%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0200%	1h	0.4575	+0.024%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	+0.098%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.547%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4576	+0.044%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0370%	1h	0.4578	+0.098%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0480%	1h	0.4575	+0.031%	$377	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4572	−0.049%	$546K	—	100x	as long as short
Lighter ONDO	+0.1024%	1h	0.4582	+0.179%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4573	−0.025%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6883%	1h	0.4570	−0.094%	$259K	$129K	5x	as long as short