ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0345%/8h= −37.8% APRnext payment −$0.43 per $10,000 · paid last 24h −0.129%

Price spread now: Phoenix against GMX−0.052%55s7-day average +0.065% · you buy dearer than you sell

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

Long on GMX Short on Phoenix

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 3 days (all we have)+0.047%+$5 · spread now −0.052%, 7d avg +0.065%

Together, before fees−0.369%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phoenix is 0.117% cheaper against GMX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.065%). Swap the legs. The two prices were read 55 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]	0.4595	L +0.0589% / S −0.0188%	pay 0.0074% / 1h	53m 34s	$549K	—	100x
Short	Phoenix ONDO	0.4593	0.0244	get 0.0031% / 1h	53m 34s	$38K	$257K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$72.44
Price spread: −0.052% → +0.065%: −$11.67
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$103.11
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 19 min ago. 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 Phoenix live order book, 19 min ago	1.09 bp	12.6 bp −$13	43.6 bp −$436	doesn't fit	doesn't fit

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	−0.0794%	1h	0.4594	−0.018%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.590%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4590	−0.105%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4595	−0.002%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4595	−0.002%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4596	+0.020%	$726K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4597	+0.036%	$68.6M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4595	−0.002%	$74.6M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4595	−0.002%	$17.9M	$81.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4591	−0.085%	$75K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4594	−0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4592	−0.067%	$12.1M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4593	−0.046%	$49.5M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4594	−0.024%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4594	−0.024%	$26.1M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4595	−0.002%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4601	+0.126%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.178%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4595	+0.001%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4590	−0.111%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4597	+0.052%	$70K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4598	+0.063%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4595	−0.002%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4605	+0.215%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4594	−0.024%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4592	−0.057%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4594	−0.027%	$411K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4595	−0.003%	$45K	$8K	3x	as long as short
Phoenix ONDOshort	+0.0244%	1h	0.4593	−0.052%	$38K	$257K	10x
Backpack ONDO_USDC_PERP	+0.0269%	1h	0.4597	+0.037%	$232K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.085%	$302K	$861K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4604	+0.194%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0365%	1h	0.4600	+0.100%	$40.8M	$26.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4597	+0.041%	$36K	$436K	25x	as long as short
01 Exchange ONDOUSD	+0.0512%	1h	0.4598	+0.067%	$378	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]long	L +0.0589% / S −0.0188%	1h	0.4595	long leg	$549K	—	100x
Lighter ONDO	+0.1064%	1h	0.4604	+0.187%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4594	−0.017%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6487%	1h	0.4590	−0.102%	$260K	$129K	5x	as long as short