Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1052%/8h= −115.2% APRpaid last 24h −0.308%

Price spread now: MEXC against Reya+0.019%48s7-day average — · you sell dearer than you buy

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

Long on Reya Short on MEXC

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$32 a day on $10k at the current rate. The two prices were read 48 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	Reya ONDORUSDPERP	0.4386	0.1152	pay 0.0144% / 1h	22m 40s	$2K	—	20x
Short	MEXC ONDO_USDT	0.4387	0.0100	get 0.0050% / 4h	22m 40s	$44.3M	$42.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Reya. 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 ReyabpFee MEXCbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$220.87
Price spread: +0.019% → 0.000%: $1.85
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: −$225.02
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 1 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	1.14 bp	1.7 bp −$2	5.7 bp −$57	21.3 bp −$2,131	113.0 bp −$56.5K

Reya: 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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4385	−0.030%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4386	+0.003%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.145%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4391	+0.114%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4387	+0.019%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4386	+0.007%	$363K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4389	+0.062%	$37.5M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4392	+0.128%	$63.4M	$230.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4385	−0.027%	$67.8M	$126.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4389	+0.064%	$17.1M	$73.2M	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	0.4398	+0.269%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4389	+0.070%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4387	+0.019%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4387	+0.019%	$44.3M	$42.0M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4386	−0.004%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4389	+0.064%	$25.1M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4391	+0.110%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4389	+0.053%	$187K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.057%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4392	+0.142%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4393	+0.154%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	+0.133%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4387	+0.030%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4386	−0.004%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	+0.064%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4396	+0.224%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4388	+0.041%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4388	+0.038%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4391	+0.101%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4389	+0.073%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4391	+0.107%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0227%	4h	0.4389	+0.064%	$738K	$2.5M	20x	as long as short
dYdX ONDO-USD	+0.0319%	1h	0.4388	+0.050%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4404	+0.406%	$272K	$730K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4389	+0.064%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4392	+0.123%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4388	+0.041%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4385	−0.028%	$521K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1152%	1h	0.4386	long leg	$2K	—	20x