Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against MEXC−0.188%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.495%+$49 · spread now −0.188%, 7d avg +0.073%

Together, before fees+0.548%+$55 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: Polymarket Perps is 0.262% cheaper against MEXC than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4565	0.0100	pay 0.0050% / 4h	1h 33m	$48.0M	$44.4M	200x
Short	Polymarket Perps ONDO-USD	0.4556	0.0100	get 0.0013% / 1h	33m 52s	$73K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.188%Rate

Funding earned: $0
Price spread: −0.188% → +0.073%: −$26.18
Slippage, 4 orders: −$10.42
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$44.6
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Polymarket Perps: live order book, 4 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, 5 min ago	1.09 bp	3.1 bp −$3	5.7 bp −$57	25.8 bp −$2,583	104.9 bp −$52.5K
Sell Polymarket Perps live order book, 4 min ago	1.64 bp	5.6 bp −$6	6.2 bp −$62	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	−0.0352%	1h	0.4561	−0.096%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4557	−0.167%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4558	−0.153%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4553	−0.263%	$430K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4563	−0.044%	$731K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4560	−0.110%	$67.4M	$225.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4559	−0.131%	$74.3M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4562	−0.066%	$17.8M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.171%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.225%	—	—	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	0.4562	−0.066%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4565	long leg	$48.0M	$44.4M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4564	−0.022%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4563	−0.044%	$25.8M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4563	−0.044%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4565	0.000%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4567	+0.043%	$778K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4571	+0.127%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.158%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4556	−0.188%	$73K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4561	−0.088%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4563	−0.044%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4567	+0.044%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4561	−0.088%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4562	−0.073%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4567	+0.047%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4566	+0.012%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	−0.002%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.066%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4562	−0.066%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.205%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4561	−0.088%	$299K	$865K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4559	−0.131%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4556	−0.195%	$375	$2K	10x	as long as short
Hyperliquid ONDO	+0.0474%	1h	0.4567	+0.042%	$40.9M	$27.5M	10x	as long as short
Lighter ONDO	+0.0592%	1h	0.4567	+0.042%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0636% / S −0.0211%	1h	0.4556	−0.189%	$578K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4556	−0.199%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1976%	1h	0.4560	−0.101%	$258K	$130K	5x	as long as short