Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Polymarket Perps+0.057%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

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

costs, in and out, $10k−$180.183% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.278%−$28 · spread now +0.057%, 7d avg −0.056%

Together, before fees−0.331%−$33 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: MEXC is 0.113% dearer against Polymarket Perps than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4402	0.0100	pay 0.0013% / 1h	54m 54s	$69K	$1.4M	10x
Short	MEXC ONDO_USDT	0.4405	0.0100	get 0.0050% / 4h	3h 54m	$44.3M	$41.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Polymarket Perps. 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 Polymarket PerpsbpFee MEXCbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → −0.056%: $11.32
Slippage, 4 orders: −$10.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$6.97
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; MEXC: 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 Polymarket Perps live order book, 4 min ago	3.87 bp	8.1 bp −$8	8.2 bp −$82	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.14 bp	1.2 bp −$1	4.2 bp −$42	17.6 bp −$1,760	117.5 bp −$58.7K

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	−0.0159%	1h	0.4406	+0.090%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4395	−0.166%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4402	−0.014%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.759%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4409	+0.150%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4403	+0.011%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	−0.045%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4405	+0.057%	$63.7M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4403	+0.011%	$68.3M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4402	−0.011%	$17.2M	$73.5M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4393	−0.214%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4393	−0.221%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4405	+0.057%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4405	+0.057%	$44.3M	$41.4M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4406	+0.080%	$12.8M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4403	+0.011%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4405	+0.057%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4410	+0.182%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.290%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4394	−0.201%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.253%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	−0.148%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4402	long leg	$69K	$1.4M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4403	+0.011%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4408	+0.125%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4414	+0.261%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4408	+0.125%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4392	−0.231%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4403	+0.006%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4408	+0.122%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4396	−0.141%	$362	$2K	10x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4408	+0.121%	$763K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4385	−0.398%	$271K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0311%	1h	0.4405	+0.068%	$37.9M	$24.6M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.080%	$3.1M	$3.1M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	−0.111%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4400	−0.051%	$523K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0658%	1h	0.4407	+0.102%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4403	+0.005%	$2K	—	20x	as long as short