Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC+0.016%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.016%, 7d avg −0.041%

Together, before fees+0.056%+ Points / potential airdropExtended: Active · farm board+$6 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: Extended is 0.057% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4515	0.0100	pay 0.0050% / 4h	3h 01m	$47.5M	$42.4M	200x
Short	Extended ONDO-USD	0.4516	0.0104	get 0.0013% / 1h	1m 57s	$410K	$823K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0.84
Price spread: +0.016% → −0.041%: $5.65
Slippage, 4 orders: −$14.82
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$13.33
Costs to cover: 0.198%
Break-even: 118.0 days

Slippage from MEXC: live order book, 2 min ago; Extended: live order book, 6 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, 2 min ago	1.10 bp	2.4 bp −$2	6.1 bp −$61	25.1 bp −$2,507	136.2 bp −$68.1K
Sell Extended live order book, 6 min ago	4.35 bp	6.8 bp −$7	14.3 bp −$143	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	−0.0883%	1h	0.4524	+0.193%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	+0.426%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	+0.244%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	+0.287%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+1.174%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4526	+0.244%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4528	+0.288%	$425K	$718K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4524	+0.202%	$712K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4518	+0.059%	$67.2M	$222.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4517	+0.044%	$72.5M	$119.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4517	+0.044%	$17.3M	$76.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	+0.638%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	+0.228%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4521	+0.133%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4515	long leg	$47.5M	$42.4M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4518	+0.066%	$14.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4517	+0.044%	$25.6M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4521	+0.133%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	+0.113%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+1.343%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+1.796%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+1.417%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	+1.329%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	+0.319%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	+0.177%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	+0.155%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	+0.377%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	+0.244%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	+0.303%	$6K	—	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4516	+0.016%	$410K	$823K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4527	+0.277%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+1.564%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	+0.303%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	+0.332%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.554%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0371%	1h	0.4525	+0.230%	$40.2M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4529	+0.315%	$540K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4532	+0.388%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	+0.294%	$2K	—	20x	as long as short