Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against MEXC−0.043%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.043% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4334	0.0100	pay 0.0050% / 4h	1h 43m	$42.9M	$42.3M	200x
Short	gTrade (Gains Network) ONDO/USD	0.4332	L +0.0003% / S −0.0011%	get 0.0001% / 1h	43m 33s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.043%Rate

Funding earned: −$18.76
Price spread: −0.043% → 0.000%: −$4.31
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.07
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 5 min ago	1.15 bp	1.2 bp −$1	3.6 bp −$36	16.6 bp −$1,658	93.4 bp −$46.7K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0146%	1h	0.4328	−0.127%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4329	−0.105%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4332	−0.043%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.399%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4330	−0.088%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4333	−0.035%	$348K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4335	+0.026%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4332	−0.052%	$62.8M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4333	−0.023%	$67.5M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	+0.023%	$17.2M	$73.6M	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	0.4326	−0.187%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4332	−0.039%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4331	−0.069%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4334	long leg	$42.9M	$42.3M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4327	−0.162%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4333	−0.023%	$24.8M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4332	−0.046%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4329	−0.106%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.237%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4331	−0.073%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	−0.054%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	−0.046%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	+0.035%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4330	−0.092%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4329	−0.115%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4330	−0.092%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.138%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4331	−0.069%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4327	−0.169%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	+0.001%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4332	−0.052%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4333	−0.016%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4331	−0.069%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4339	+0.115%	$214K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0294%	1h	0.4330	−0.083%	$36.3M	$27.3M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4331	−0.062%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	+0.046%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4331	−0.068%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4331	−0.063%	$2K	—	20x	as long as short