Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against MEXC−0.022%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.022% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4342	0.0100	pay 0.0050% / 4h	3h 47m	$44.6M	$41.9M	200x
Short	gTrade (Gains Network) ONDO/USD	0.4341	L +0.0003% / S −0.0011%	get 0.0001% / 1h	47m 59s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.022%Rate

Funding earned: −$18.76
Price spread: −0.022% → 0.000%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$30.97
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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	1.15 bp	1.2 bp −$1	3.8 bp −$38	15.1 bp −$1,514	86.4 bp −$43.2K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0176%	1h	0.4341	−0.031%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4341	−0.022%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.205%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4347	+0.106%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4343	+0.023%	$347K	$890K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4347	+0.116%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4344	+0.046%	$63.5M	$233.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4344	+0.046%	$68.6M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4346	+0.092%	$17.4M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4341	−0.014%	$71K	$81K	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	0.4339	−0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4342	0.000%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4342	long leg	$44.6M	$41.9M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	−0.023%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4346	+0.092%	$24.9M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4343	+0.023%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4343	+0.023%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.074%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4330	−0.268%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	−0.218%	$408K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.253%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4339	−0.069%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4338	−0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4343	+0.023%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4345	+0.069%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4342	0.000%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4338	−0.097%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4346	+0.084%	$366K	$829K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	+0.046%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4343	+0.023%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	−0.069%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4338	−0.101%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4344	+0.041%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.092%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4341	−0.033%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0642%	1h	0.4348	+0.131%	$36.7M	$27.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4341	−0.017%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1744%	1h	0.4334	−0.175%	$243K	$155K	5x	as long as short