Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against edgeX−0.126%83s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$220.224% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.126%, 7d avg −0.020%

Together, before fees−0.038%+ Points / potential airdropedgeX: Active · farm board−$4 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 0.106% cheaper against edgeX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 83 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	edgeX ONDOUSDC	0.4393	0.0100	pay 0.0050% / 4h	3h 46m	$4K	$317K	20x
Short	MEXC ONDO_USDT	0.4387	0.0100	get 0.0050% / 4h	3h 46m	$43.8M	$41.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against edgeX. 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 edgeXbpFee MEXCbpOrdersPrice spread, now −0.126%Rate

Funding earned: $0
Price spread: −0.126% → −0.020%: −$10.64
Slippage, 4 orders: −$13.38
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$33.02
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from edgeX: live order book, 7 min ago; MEXC: live order book, 3 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 edgeX live order book, 7 min ago	4.53 bp	9.0 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.14 bp	1.1 bp −$1	5.1 bp −$51	19.2 bp −$1,918	104.1 bp −$52.1K

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	−0.0160%	1h	0.4387	−0.132%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4385	−0.181%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4386	−0.146%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.995%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4392	−0.003%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4386	−0.149%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4388	−0.109%	$362K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4387	−0.124%	$63.5M	$231.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4385	−0.172%	$68.1M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4388	−0.103%	$17.2M	$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	0.4408	+0.354%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4385	−0.182%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4384	−0.194%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4387	−0.126%	$43.8M	$41.6M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4386	−0.149%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4387	−0.126%	$25.1M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4386	−0.149%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4388	−0.108%	$185K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4386	−0.155%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4393	long leg	$4K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.058%	$407K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4391	−0.035%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4388	−0.096%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4389	−0.080%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4389	−0.080%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4393	+0.011%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4387	−0.126%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4384	−0.185%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4388	−0.108%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4391	−0.035%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4386	−0.146%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0214%	4h	0.4389	−0.080%	$781K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4384	−0.194%	$260K	$738K	50x	as long as short
Hyperliquid ONDO	+0.0296%	1h	0.4391	−0.039%	$37.8M	$24.6M	10x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4394	+0.029%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4390	−0.058%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4390	−0.058%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4386	−0.144%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4388	−0.092%	$2K	—	20x	as long as short