Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC+0.015%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.015%, 7d avg −0.040%

Together, before fees+0.062%+ Points / potential airdropExtended: Active · farm board+$6 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: Extended is 0.054% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4324	0.0100	pay 0.0050% / 4h	2h 36m	$43.0M	$42.2M	200x
Short	Extended ONDO-USD	0.4325	0.0104	get 0.0013% / 1h	36m 43s	$389K	$795K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0.84
Price spread: +0.015% → −0.040%: $5.44
Slippage, 4 orders: −$10.55
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$9.27
Costs to cover: 0.156%
Break-even: 84.3 days

Slippage from MEXC: live order book, 2 min ago; Extended: live order book, 11 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	1.16 bp	1.2 bp −$1	3.5 bp −$35	15.9 bp −$1,589	100.4 bp −$50.2K
Sell Extended live order book, 11 min ago	3.45 bp	6.0 bp −$6	15.3 bp −$153	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	−0.0242%	1h	0.4317	−0.154%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4314	−0.231%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0021%	1h	0.4323	−0.016%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.643%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4316	−0.185%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4327	+0.062%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4314	−0.237%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4323	−0.019%	$36.1M	$25.8M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4326	+0.046%	$778K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4325	+0.023%	$62.2M	$235.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4323	−0.023%	$67.3M	$125.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4325	+0.023%	$17.2M	$73.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	−0.227%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4324	+0.006%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4324	0.000%	$12.1M	$16.3M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4324	long leg	$43.0M	$42.2M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4321	−0.069%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4325	+0.023%	$24.8M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4325	+0.023%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	−0.067%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	−0.397%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4303	−0.483%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	−0.435%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4301	−0.532%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4315	−0.213%	$68K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4315	−0.208%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4315	−0.208%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4320	−0.093%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4325	+0.023%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4321	−0.069%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4324	+0.002%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4325	+0.015%	$389K	$795K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4321	−0.075%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4318	−0.139%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.509%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	−0.259%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4317	−0.162%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4315	−0.218%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4315	−0.219%	$2K	—	20x	as long as short