Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.025%

Price spread now: GMX against Binance+0.204%7-day average −0.019% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.080%+$8 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now +0.204%, 7d avg −0.019%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.223% dearer against Binance than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4620	0.0100	pay 0.0050% / 4h	3h 13m	$69.3M	$221.3M	75x
Short	GMX ONDO/USD [ETH-USDC]	0.4629	L +0.0593% / S −0.0188%	get 0.0023% / 1h	13m 39s	$552K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.204%Rate

Funding earned: $18.38
Price spread: +0.204% → −0.019%: $22.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $18.69
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Binance: live order book, 15 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 Binance live order book, 15 min ago	1.08 bp	7.7 bp −$8	14.6 bp −$146	54.2 bp −$5,421	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 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	−0.0862%	1h	0.4632	+0.263%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4614	−0.118%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4629	+0.205%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.115%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4630	+0.227%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	+0.173%	$434K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4624	+0.097%	$738K	$2.1M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4620	long leg	$69.3M	$221.3M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4616	−0.076%	$74.4M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4619	−0.011%	$17.7M	$78.2M	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	0.4593	−0.565%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4621	+0.033%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4617	−0.054%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4617	−0.054%	$49.9M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4619	−0.011%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4617	−0.054%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4617	−0.054%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.254%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	−0.347%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	−0.319%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	−0.336%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4629	+0.216%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4626	+0.141%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4632	+0.270%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4641	+0.465%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4627	+0.162%	$4.6M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4619	−0.011%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4616	−0.065%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4633	+0.285%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0117%	1h	0.4630	+0.234%	$233K	$999K	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.678%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4628	+0.175%	$381	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4623	+0.076%	$300K	$820K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4613	−0.141%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0364%	1h	0.4625	+0.115%	$41.1M	$25.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0398%	1h	0.4632	+0.270%	$34K	$342K	25x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0593% / S −0.0188%	1h	0.4629	+0.204%	$552K	—	100x
Lighter ONDO	+0.0664%	1h	0.4629	+0.197%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4629	+0.211%	$2K	—	20x	as long as short