Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended+0.068%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$150.151% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.068%, 7d avg +0.039%

Together, before fees−0.124%+ Points / potential airdropExtended: Active · farm board−$12 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 0.029% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4308	0.0104	pay 0.0013% / 1h	49m 05s	$350K	$782K	25x
Short	MEXC ONDO_USDT	0.4311	0.0100	get 0.0050% / 4h	1h 49m	$46.3M	$39.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$0.84
Price spread: +0.068% → +0.039%: $2.89
Slippage, 4 orders: −$10.11
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$13.06
Costs to cover: 0.151%
Break-even: never at this rate

Slippage from Extended: live order book, 61 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 Extended live order book, 61 min ago	3.46 bp	6.0 bp −$6	15.6 bp −$156	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.16 bp	1.2 bp −$1	5.5 bp −$55	16.8 bp −$1,678	100.1 bp −$50.1K

ONDO on 39 exchanges

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	−0.0326%	1h	0.4311	+0.074%	$2.5M	$7.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4310	+0.045%	$21K	$365K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4322	+0.312%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.033%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4315	+0.154%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4308	−0.002%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4311	+0.079%	$336K	$820K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4311	+0.075%	$768K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4308	+0.003%	$62.7M	$222.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4306	−0.048%	$67.3M	$116.4M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4308	−0.002%	$17.3M	$66.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4309	+0.012%	$69K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4309	+0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4309	+0.021%	$13.7M	$13.1M	50x	as long as short
MEXC ONDO_USDTshort	+0.0100%	4h	0.4311	+0.068%	$46.3M	$39.9M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4309	+0.021%	$13.0M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4309	+0.021%	$25.1M	$33.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4310	+0.045%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4310	+0.045%	$179K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	−0.016%	$787K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4311	+0.075%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4322	+0.323%	$399K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4313	+0.114%	$133K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4311	+0.075%	$60K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4310	+0.045%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4310	+0.045%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4319	+0.254%	$105K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4312	+0.091%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4308	+0.003%	$6K	—	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4308	long leg	$350K	$782K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4311	+0.059%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0136%	1h	0.4310	+0.052%	$355	$2K	10x	as long as short
Hyperliquid ONDO	+0.0174%	1h	0.4314	+0.137%	$36.3M	$26.7M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0184% / S +0.0251%	1h	0.4315	+0.160%	$364K	—	100x	as long as short
Phoenix ONDO	+0.0221%	1h	0.4316	+0.175%	$35K	$208K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+1.043%	$214K	$612K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4307	−0.025%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4311	+0.059%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3773%	1h	0.4309	+0.020%	$247K	$159K	5x	as long as short