ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0538%/8h= −58.9% APRnext payment −$0.67 per $10,000 · paid last 24h −0.480%

Price spread now: Injective against GMX+5.314%57s7-day average −0.736% · you sell dearer than you buy

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

Long on GMX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−2.661%−$266 on $10k

Price spread, last 4 days (all we have)−6.043%−$604 · spread now +5.314%, 7d avg −0.736%

Together, before fees−8.704%−$870 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 6.050% dearer against GMX than usual: you sell high and buy low (spread +5.314% now, against its 7-day average of −0.736%): +$605 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 37 days. At the pace of the last 3 days (−2.661% in total) that is about 7.7 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ONDO/USD [ETH-USDC]	0.4338	L +0.0571% / S −0.0202%	pay 0.0071% / 1h	19m 43s	$494K	—	100x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	19m 43s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GMX. 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 GMXbpFee InjectivebpOrdersPrice spread, now +5.314%Rate

Funding earned: −$112.96
Price spread: +5.314% → −0.736%: $605.02
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $480.03
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Injective: 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 GMX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

GMX and Injective: 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	−0.0241%	1h	0.4337	−0.008%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4338	+0.008%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0012%	1h	0.4337	−0.007%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+5.314%	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4344	+0.150%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4337	−0.018%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4343	+0.127%	$36.3M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	+0.127%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4342	+0.104%	$62.5M	$237.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4339	+0.034%	$67.8M	$126.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	+0.104%	$17.3M	$73.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	−0.056%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4340	+0.047%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4340	+0.057%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4340	+0.057%	$43.2M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4340	+0.057%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	+0.080%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4340	+0.057%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4342	+0.106%	$178K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.410%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4307	−0.703%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4313	−0.567%	$398K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4306	−0.726%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4339	+0.037%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4339	+0.034%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4340	+0.057%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4340	+0.057%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4348	+0.242%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4339	+0.034%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4342	+0.094%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4340	+0.063%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	+0.092%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0112%	1h	0.4340	+0.048%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4341	+0.080%	$218K	$760K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4311	−0.620%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	−0.381%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]long	L +0.0571% / S −0.0202%	1h	0.4338	long leg	$494K	—	100x
Deribit ONDO_USDC-PERPETUAL	+0.0672%	1h	0.4342	+0.104%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4339	+0.028%	$2K	—	20x	as long as short