Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.025%

Price spread now: GMX against edgeX−0.264%7-day average +0.007% · you buy dearer than you sell

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 3 days (all we have)+0.339%+$34 · spread now −0.264%, 7d avg +0.007%

Together, before fees+0.419%+ Points / potential airdropedgeX: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.271% cheaper against edgeX than usual: you would sell low and buy high (spread −0.264% now, against its 7-day average of +0.007%). If the spread goes back, that is −$27 on $10k: about 8.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4571	0.0100	pay 0.0050% / 4h	1h 34m	$5K	$319K	20x
Short	GMX ONDO/USD [ETH-USDC]	0.4559	L +0.0637% / S −0.0211%	get 0.0026% / 1h	34m 53s	$578K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. 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 edgeXbpFee GMXbpOrdersPrice spread, now −0.264%Rate

Funding earned: $23.28
Price spread: −0.264% → +0.007%: −$27.05
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$24.78
Costs to cover: 0.210%
Break-even: 14.5 days

Slippage unknown: edgeX: live order book, 48 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 edgeX live order book, 48 min ago	4.42 bp	8.9 bp −$9	15.6 bp −$156	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	−0.0353%	1h	0.4554	−0.369%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4559	−0.252%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4556	−0.323%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.258%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4554	−0.360%	$739K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4553	−0.387%	$67.3M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4554	−0.367%	$74.2M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4554	−0.367%	$17.7M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.044%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4559	−0.252%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4551	−0.433%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4551	−0.433%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4550	−0.455%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4553	−0.389%	$25.8M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4553	−0.389%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4559	−0.251%	$233K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4567	−0.083%	$778K	$2.0M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4571	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.031%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	−0.168%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4554	−0.367%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4556	−0.323%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4565	−0.126%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4556	−0.323%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4554	−0.369%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4552	−0.405%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4558	−0.269%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	−0.129%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.061%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4557	−0.301%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.077%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.070%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4559	−0.258%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4563	−0.166%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0476%	1h	0.4561	−0.223%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0584%	1h	0.4564	−0.157%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0637% / S −0.0211%	1h	0.4559	−0.264%	$578K	—	100x
Reya ONDORUSDPERP	+0.1141%	1h	0.4563	−0.171%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1481%	1h	0.4554	−0.356%	$258K	$130K	5x	as long as short