Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h +0.025%

Price spread now: GMX against Aster−0.084%7-day average −0.049% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.084%, 7d avg −0.049%

Together, before fees+0.118%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.035% cheaper against Aster than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of −0.049%). If the spread goes back, that is −$3 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4390	0.0100	pay 0.0050% / 4h	2h 07m	$675K	$2.1M	20x
Short	GMX ONDO/USD [ETH-USDC]	0.4386	L +0.0549% / S −0.0190%	get 0.0024% / 1h	7m 10s	$484K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $18.81
Price spread: −0.084% → −0.049%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$4.68
Costs to cover: 0.200%
Break-even: 8.7 days

Slippage unknown: Aster: live order book, 1 min ago; GMX: 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 Aster live order book, 1 min ago	2.27 bp	8.5 bp −$9	43.1 bp −$431	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 38 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	−0.0364%	1h	0.4388	−0.038%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4395	+0.116%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4387	−0.069%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.055%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4388	−0.046%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4390	+0.011%	$379K	$840K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4390	long leg	$675K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4389	−0.023%	$63.7M	$228.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4388	−0.046%	$69.5M	$124.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4388	−0.046%	$17.0M	$74.1M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4399	+0.200%	$72K	$87K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4388	−0.056%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4387	−0.068%	$11.5M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4390	0.000%	$46.4M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4388	−0.046%	$13.0M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4387	−0.068%	$24.9M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4390	0.000%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4398	+0.176%	$762K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4383	−0.164%	$4K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4386	−0.100%	$404K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.273%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4389	−0.023%	$90K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4390	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4392	+0.046%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4400	+0.228%	$129K	$498K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4393	+0.075%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4389	−0.023%	$396K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4392	+0.043%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0167%	1h	0.4389	−0.023%	$195K	$995K	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0206%	1h	0.4389	−0.023%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0234%	1h	0.4390	+0.010%	$38.5M	$24.0M	10x	as long as short
Phemex ONDOUSDT	+0.0269%	4h	0.4389	−0.023%	$4.2M	$7.5M	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.729%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4391	+0.016%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4392	+0.055%	$361	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0549% / S −0.0190%	1h	0.4386	−0.084%	$484K	—	100x
Lighter ONDO	+0.0776%	1h	0.4396	+0.130%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4389	−0.018%	$2K	—	20x	as long as short