Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.155%

Price spread now: MEXC against Lighter−0.050%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 7 days+0.025%+$2 · spread now −0.050%, 7d avg −0.092%

Together, before fees−0.249%+ Points / potential airdropLighter: Season 3 · farm board−$25 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 0.042% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4367	0.0096	pay 0.0012% / 1h	17m 42s	$1.1M	$2.4M	10x
Short	MEXC ONDO_USDT	0.4365	0.0100	get 0.0050% / 4h	3h 17m	$43.2M	$42.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0.84
Price spread: −0.050% → −0.092%: $4.2
Slippage, 4 orders: −$19.94
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$14.91
Costs to cover: 0.199%
Break-even: 131.2 days

Slippage from Lighter: live order book, 4 min ago; MEXC: live order book, 1 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 Lighter live order book, 4 min ago	6.64 bp	6.9 bp −$7	25.7 bp −$257	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.15 bp	1.1 bp −$1	4.9 bp −$49	18.2 bp −$1,815	83.0 bp −$41.5K

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	−0.0161%	1h	0.4356	−0.251%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4355	−0.277%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.598%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4367	long leg	$1.1M	$2.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4356	−0.256%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4355	−0.268%	$359K	$840K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4362	−0.119%	$62.9M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4359	−0.188%	$67.7M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4362	−0.119%	$17.1M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4345	−0.515%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4351	−0.376%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4363	−0.096%	$11.8M	$16.2M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4365	−0.050%	$43.2M	$42.0M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4361	−0.142%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4365	−0.050%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4363	−0.096%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4361	−0.151%	$184K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4352	−0.354%	$702K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4357	−0.240%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	−0.326%	$403K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4359	−0.188%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4358	−0.222%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	−0.325%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4359	−0.188%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4358	−0.211%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4358	−0.211%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4351	−0.375%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4360	−0.158%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4360	−0.163%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0149%	4h	0.4364	−0.073%	$789K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4353	−0.316%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0187%	1h	0.4368	+0.007%	$37.5M	$24.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4362	−0.119%	$246K	$724K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4361	−0.144%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4353	−0.325%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4360	−0.165%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4355	−0.269%	$484K	—	100x	as long as short
dYdX ONDO-USD	+0.0669%	1h	0.4362	−0.123%	$247K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4356	−0.245%	$2K	—	20x	as long as short