Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.100%

Price spread now: Coinbase International against MEXC+0.116%7-day average +0.222% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.812%+$81 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now +0.116%, 7d avg +0.222%

Together, before fees+0.905%+$90 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.106% cheaper against MEXC than usual: you would sell low and buy high (spread +0.116% now, against its 7-day average of +0.222%). If the spread goes back, that is −$11 on $10k: about 47 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.812% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4319	0.0100	pay 0.0050% / 4h	36m 45s	$43.6M	$42.1M	200x
Short	Coinbase International ONDO-PERP-INTX	0.4324	0.0280	get 0.0035% / 1h	36m 45s	$214K	$730K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.116%Rate

Funding earned: $37.8
Price spread: +0.116% → +0.222%: −$10.62
Slippage, 4 orders: −$39.34
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$22.17
Costs to cover: 0.493%
Break-even: 11.1 days

Slippage from MEXC: live order book, 2 min ago; Coinbase International: live order book, 2 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	1.15 bp	1.2 bp −$1	5.1 bp −$51	19.3 bp −$1,927	111.7 bp −$55.8K
Sell Coinbase International live order book, 2 min ago	9.26 bp	14.5 bp −$14	52.1 bp −$521	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	−0.0176%	1h	0.4315	−0.086%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4318	−0.017%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.765%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4321	+0.042%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4319	0.000%	$346K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	−0.023%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4317	−0.052%	$62.6M	$233.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4310	−0.208%	$67.7M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4310	−0.208%	$17.3M	$71.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4336	+0.398%	$71K	$81K	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	0.4320	+0.021%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4318	−0.023%	$12.8M	$15.8M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4319	long leg	$43.6M	$42.1M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.023%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4317	−0.046%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4317	−0.046%	—	$775K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	+0.023%	$175K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4333	+0.316%	$735K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4326	+0.169%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4329	+0.232%	$399K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4335	+0.370%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4322	+0.060%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4325	+0.139%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4318	−0.023%	$489	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4327	+0.185%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4318	−0.023%	$4.2M	$8.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4323	+0.099%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4316	−0.062%	$353K	$800K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4320	+0.023%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4318	−0.023%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4319	+0.007%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4324	+0.116%	$214K	$730K	50x
Phoenix ONDO	+0.0315%	1h	0.4332	+0.306%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.046%	$3.1M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0352%	1h	0.4322	+0.067%	$36.5M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4318	−0.020%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1160%	1h	0.4319	+0.004%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1619%	1h	0.4318	−0.032%	$242K	$156K	5x	as long as short