Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.027%

Price spread now: GMX against Gate−0.035%7-day average +0.026% · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.035%, 7d avg +0.026%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.061% cheaper against Gate than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.026%). If the spread goes back, that is −$6 on $10k: about 2.2 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	Gate ONDO_USDT	0.4380	0.0100	pay 0.0050% / 4h	3h 31m	$11.7M	$16.1M	50x
Short	GMX ONDO/USD [ETH-USDC]	0.4378	L +0.0556% / S −0.0193%	get 0.0024% / 1h	31m 54s	$487K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $19.52
Price spread: −0.035% → +0.026%: −$6.14
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$13.62
Costs to cover: 0.270%
Break-even: 11.9 days

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	2.28 bp	14.6 bp −$15	30.6 bp −$306	45.3 bp −$4,527	76.4 bp −$38.2K
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	−0.0160%	1h	0.4378	−0.043%	$2.6M	$7.7M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4379	−0.034%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	−0.029%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.292%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4385	+0.103%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4380	0.000%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4380	+0.006%	$362K	$845K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4382	+0.055%	$63.3M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4381	+0.023%	$68.1M	$125.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4381	+0.023%	$17.2M	$72.8M	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	0.4388	+0.183%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4380	+0.011%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4380	long leg	$11.7M	$16.1M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4380	0.000%	$43.6M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4380	0.000%	$12.7M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4382	+0.046%	$25.1M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4381	+0.023%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4380	+0.005%	$184K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4375	−0.120%	$714K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4381	+0.018%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	+0.044%	$410K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4383	+0.068%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4382	+0.041%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4382	+0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4380	0.000%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4389	+0.205%	$130K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4381	+0.023%	$4.2M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4380	−0.003%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4378	−0.040%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4384	+0.080%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4383	+0.062%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0195%	4h	0.4383	+0.072%	$795K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0250%	1h	0.4382	+0.057%	$37.7M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	+0.228%	$260K	$738K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4385	+0.103%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4384	+0.091%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4382	+0.046%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0556% / S −0.0193%	1h	0.4378	−0.035%	$487K	—	100x
Reya ONDORUSDPERP	+0.1154%	1h	0.4381	+0.033%	$2K	—	20x	as long as short