Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.068%

Price spread now: Hyperliquid against MEXC+0.023%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$200.197% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.358%+$36 on $10k

Price spread, last 7 days+0.024%+$2 · spread now +0.023%, 7d avg +0.080%

Together, before fees+0.382%+ Points / potential airdropHyperliquid: Season 2 · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.057% cheaper against MEXC than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.080%). If the spread goes back, that is −$6 on $10k: about 34 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4396	0.0100	pay 0.0050% / 4h	2h 08m	$45.9M	$43.7M	200x
Short	Hyperliquid ONDO	0.4397	0.0235	get 0.0029% / 1h	8m 04s	$38.6M	$24.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.023%Rate

Funding earned: $28.31
Price spread: +0.023% → +0.080%: −$5.72
Slippage, 4 orders: −$10.68
Fee MEXC: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $2.91
Costs to cover: 0.197%
Break-even: 6.3 days

Slippage from MEXC: live order book, 1 min ago; Hyperliquid: live order book, 5 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	1.14 bp	1.9 bp −$2	6.0 bp −$60	22.6 bp −$2,265	125.3 bp −$62.6K
Sell Hyperliquid live order book, 5 min ago	0.23 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit

ONDO on 38 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	−0.0363%	1h	0.4393	−0.076%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4384	−0.270%	$248K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4395	−0.020%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.913%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4396	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4389	−0.154%	$380K	$841K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4399	+0.057%	$677K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4398	+0.045%	$63.8M	$229.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4397	+0.023%	$69.6M	$124.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4398	+0.045%	$17.0M	$74.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4399	+0.064%	$72K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4390	−0.142%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4392	−0.091%	$11.6M	$16.5M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4396	long leg	$45.9M	$43.7M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4395	−0.023%	$13.0M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4397	+0.023%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4396	0.000%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4398	+0.039%	$762K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4401	+0.103%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	+0.126%	$406K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4398	+0.045%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	−0.052%	$90K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4395	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4398	+0.045%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4406	+0.227%	$129K	$499K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4388	−0.180%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4397	+0.022%	$396K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4400	+0.091%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0166%	1h	0.4397	+0.025%	$196K	$996K	15x	as long as short
Hyperliquid ONDOshort	+0.0235%	1h	0.4397	+0.023%	$38.6M	$24.0M	10x
Phemex ONDOUSDT	+0.0308%	4h	0.4393	−0.068%	$4.2M	$7.5M	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.591%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	+0.305%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4393	−0.064%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4399	+0.068%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4395	−0.017%	$485K	—	100x	as long as short
Lighter ONDO	+0.0784%	1h	0.4402	+0.127%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4393	−0.064%	$2K	—	20x	as long as short