ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0079%/8h= −8.7% APRnext payment −$0.10 per $10,000 · paid last 24h −0.090%

Price spread now: GMX against Coinbase International−0.125%7-day average −0.227% · you buy dearer than you sell

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

Long on Coinbase International Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.416%−$42 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now −0.125%, 7d avg −0.227%

Together, before fees−0.604%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.102% dearer against Coinbase International than usual: you sell high and buy low (spread −0.125% now, against its 7-day average of −0.227%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.3 days. At the pace of the last 3 days (−0.416% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4335	0.0272	pay 0.0034% / 1h	7m 56s	$218K	$765K	50x
Short	GMX ONDO/USD [ETH-USDC]	0.4330	L +0.0553% / S −0.0193%	get 0.0024% / 1h	7m 56s	$481K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee GMXbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$16.6
Price spread: −0.125% → −0.227%: $10.2
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$28.41
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 45 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 Coinbase International live order book, 45 min ago	5.67 bp	17.3 bp −$17	43.8 bp −$438	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 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	−0.0162%	1h	0.4327	−0.191%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4330	−0.116%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.375%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4332	−0.060%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4330	−0.115%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4333	−0.058%	$357K	$862K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4328	−0.157%	$36.5M	$25.3M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4329	−0.131%	$62.4M	$232.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4328	−0.161%	$67.3M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4330	−0.115%	$17.0M	$72.3M	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	0.4330	−0.120%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4331	−0.098%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4328	−0.161%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	−0.092%	$42.4M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	−0.138%	$12.5M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4329	−0.138%	$24.8M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4327	−0.185%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4328	−0.157%	$179K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4330	−0.122%	$681K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4348	+0.294%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4349	+0.325%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4346	+0.254%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4329	−0.129%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	−0.069%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4330	−0.115%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.115%	$128K	$431K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4330	−0.115%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4332	−0.071%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4330	−0.119%	$390K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4333	−0.058%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0134%	4h	0.4329	−0.128%	$775K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4331	−0.095%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0272%	1h	0.4335	long leg	$218K	$765K	50x
Phoenix ONDO	+0.0327%	1h	0.4339	+0.081%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4330	−0.115%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4333	−0.046%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0553% / S −0.0193%	1h	0.4330	−0.125%	$481K	—	100x
Reya ONDORUSDPERP	+0.1154%	1h	0.4330	−0.105%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1310%	1h	0.4331	−0.099%	$248K	$133K	5x	as long as short