Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.055%

Price spread now: 01 Exchange against MEXC−0.424%56s7-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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. 01 Exchange is 0.424% cheaper against MEXC than usual: you would sell low and buy high (spread −0.424% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$42 on $10k: about 10 days of funding at the current rate (+$4 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4597	0.0100	pay 0.0050% / 4h	3h 37m	$49.8M	$41.6M	200x
Short	01 Exchange ONDOUSD	0.4577	0.0240	get 0.0030% / 1h	37m 44s	$377	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.424%Rate

Funding earned: $29.4
Price spread: −0.424% → 0.000%: −$42.42
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$20.02
Costs to cover: 0.070%
Break-even: 11.8 days

Slippage unknown: MEXC: live order book, 1 min ago; 01 Exchange: 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	1.09 bp	3.4 bp −$3	6.7 bp −$67	22.9 bp −$2,290	117.8 bp −$58.9K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0872%	1h	0.4579	−0.381%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4590	−0.146%	$260K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4579	−0.392%	$33K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4575	−0.476%	$6K	—	150x	as long as short
Gate ONDO_USDT	+0.0020%	4h	0.4597	0.000%	$12.1M	$16.6M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.631%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4578	−0.413%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4577	−0.435%	$435K	$709K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4590	−0.160%	$724K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4598	+0.025%	$68.7M	$225.4M	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	0.4597	0.000%	$74.5M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4598	+0.022%	$17.6M	$79.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4595	−0.050%	$76K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4602	+0.110%	—	—	5x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4597	long leg	$49.8M	$41.6M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4599	+0.044%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4602	+0.109%	$26.0M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4600	+0.065%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4582	−0.331%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4583	−0.309%	$819K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4583	−0.310%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4596	−0.015%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4581	−0.348%	$173K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4579	−0.394%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4575	−0.479%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4579	−0.392%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	−0.435%	$134K	$497K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4578	−0.413%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4597	+0.010%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4597	+0.001%	$411K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4581	−0.359%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0161%	1h	0.4600	+0.072%	$40.9M	$25.3M	10x	as long as short
01 Exchange ONDOUSDshort	+0.0240%	1h	0.4577	−0.424%	$377	$2K	10x
Phoenix ONDO	+0.0244%	1h	0.4585	−0.265%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4578	−0.413%	$297K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	−0.522%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0536%	1h	0.4604	+0.148%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4574	−0.498%	$546K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4575	−0.484%	$2K	—	20x	as long as short