Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against MEXC0.000%51s7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.203% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now 0.000%, 7d avg +0.048%

Together, before fees+0.146%+$15 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: ApeX Omni is 0.048% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.048%. The two prices were read 51 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	0.4301	0.0100	pay 0.0050% / 4h	2h 24m	$42.4M	$42.4M	200x
Short	ApeX Omni ONDOUSDT	0.4301	0.0100	get 0.0013% / 1h	24m 34s	$133K	$355K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.048%: −$4.8
Slippage, 4 orders: −$10.31
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$25.11
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; ApeX Omni: live order book, 23 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, 4 min ago	1.16 bp	2.7 bp −$3	6.8 bp −$68	20.2 bp −$2,022	116.5 bp −$58.3K
Sell ApeX Omni live order book, 23 min ago	1.15 bp	7.6 bp −$8	22.1 bp −$221	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	−0.0243%	1h	0.4301	−0.007%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4302	+0.019%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0014%	1h	0.4297	−0.088%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.208%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0088%	1h	0.4305	+0.102%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4303	+0.044%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4306	+0.116%	$348K	$881K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4301	+0.009%	$35.9M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4306	+0.124%	$769K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4307	+0.135%	$62.0M	$236.5M	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	0.4303	+0.047%	$67.1M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4304	+0.070%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4298	−0.079%	$70K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4301	+0.001%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4301	0.000%	$12.1M	$16.5M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4301	long leg	$42.4M	$42.4M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4298	−0.070%	$11.9M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4306	+0.116%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4302	+0.023%	—	$766K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4296	−0.121%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4294	−0.168%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4298	−0.059%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	+0.096%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4301	0.000%	$133K	$355K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4306	+0.119%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4303	+0.047%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4303	+0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4303	+0.047%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4314	+0.302%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4301	0.000%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4304	+0.059%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4302	+0.019%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4306	+0.107%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4308	+0.163%	$216K	$757K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4309	+0.181%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4301	0.000%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4302	+0.026%	$484K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0680%	1h	0.4305	+0.093%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4306	+0.122%	$2K	—	20x	as long as short