Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h −0.741%

Price spread now: Injective against MEXC−0.022%7-day average −0.971% · you buy dearer than you sell

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.353%−$335 on $10k

Price spread, last 3 days (all we have)−0.671%−$67 · spread now −0.022%, 7d avg −0.971%

Together, before fees−4.024%−$402 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.949% dearer against MEXC than usual: you sell high and buy low: +$95 more if the spread goes back to its 7-day average of −0.971%. Mind the row above: over the last 7 days funding on this pair cost −3.353%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4569	0.0100	pay 0.0050% / 4h	1h 08m	$49.2M	$44.9M	200x
Short	Injective ONDO/USDC PERP	0.4568	0.0151	get 0.0019% / 1h	8m 53s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −0.022%Rate

Funding earned: $10.61
Price spread: −0.022% → −0.971%: $94.94
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $105.53
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 5 min ago; Injective: 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, 5 min ago	1.10 bp	1.1 bp −$1	4.6 bp −$46	18.8 bp −$1,880	106.8 bp −$53.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0352%	1h	0.4573	+0.082%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4571	+0.047%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4570	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4569	+0.005%	$432K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4574	+0.103%	$730K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4570	+0.028%	$67.9M	$226.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4568	−0.022%	$74.0M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4568	−0.022%	$17.8M	$81.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.405%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	−0.068%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4566	−0.066%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4569	long leg	$49.2M	$44.9M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4570	+0.022%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4570	+0.022%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4568	−0.022%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4560	−0.200%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	−0.142%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	−0.017%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	−0.088%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4574	+0.114%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4574	+0.109%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	+0.153%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	+0.066%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4567	−0.051%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4568	−0.021%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	+0.130%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.368%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0143%	1h	0.4574	+0.114%	$231K	$1.0M	15x	as long as short
Injective ONDO/USDC PERPshort	+0.0151%	1h	0.4568	−0.022%	$888	$216K	5.5x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.569%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4575	+0.131%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0379%	1h	0.4574	+0.100%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4571	+0.033%	$376	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4573	+0.088%	$31K	$431K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4570	+0.021%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4581	+0.258%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4573	+0.084%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5341%	1h	0.4564	−0.101%	$258K	$129K	5x	as long as short