Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0340%/8h= −37.3% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against MEXC−0.069%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.324%+$32 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.069%, 7d avg +0.068%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Kraken Futures is 0.137% cheaper against MEXC than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.068%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.324%, so the current rate has only just turned against you.

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	2h 50m	$43.4M	$41.7M	200x
Short	Kraken Futures PF_ONDOUSD	0.4339	−0.0240	pay 0.0030% / 1h	50m 41s	$2.6M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$71.49
Price spread: −0.069% → +0.068%: −$13.71
Slippage, 4 orders: −$27.13
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$122.33
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	1.15 bp	2.4 bp −$2	4.1 bp −$41	12.6 bp −$1,264	77.2 bp −$38.6K
Sell Kraken Futures live order book, 3 min ago	4.62 bp	17.0 bp −$17	20.8 bp −$208	395.2 bp −$39.5K	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_ONDOUSDshort	−0.0240%	1h	0.4339	−0.069%	$2.6M	$7.9M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.050%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.205%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0040%	1h	0.4339	−0.067%	$357	$2K	10x	as long as short
dYdX ONDO-USD	+0.0042%	1h	0.4340	−0.048%	$248K	$133K	5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	+0.064%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.023%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	−0.052%	$352K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4344	+0.041%	$36.5M	$25.7M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4341	−0.018%	$62.5M	$234.3M	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	0.4339	−0.069%	$67.5M	$125.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	0.000%	$17.1M	$72.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4338	−0.097%	$72K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4340	−0.057%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4341	−0.023%	$12.1M	$16.2M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4342	long leg	$43.4M	$41.7M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	−0.023%	$12.2M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4343	+0.023%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4342	0.000%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	−0.014%	$175K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.075%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4337	−0.118%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4339	−0.069%	$400K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4336	−0.138%	$134K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	−0.035%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4337	−0.115%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4342	0.000%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4347	+0.115%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4341	−0.023%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4338	−0.101%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0102%	4h	0.4343	+0.027%	$778K	$2.6M	20x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4341	−0.022%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4343	+0.015%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4342	0.000%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.092%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.099%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4340	−0.046%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4340	−0.043%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4341	−0.029%	$2K	—	20x	as long as short