Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0486%/8h= −53.2% APRnext payment −$0.61 per $10,000 · paid last 24h —

Price spread now: RISEx against GMX−0.104%7-day average — · you buy dearer than you sell

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

Long on GMX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and RISEx is 0.104% cheaper against GMX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ONDO/USD [ETH-USDC]	0.4541	L +0.0586% / S −0.0188%	pay 0.0073% / 1h	25m 20s	$542K	—	100x
Short	RISEx ONDO/USDC	0.4536	0.0100	get 0.0013% / 1h	25m 20s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$102.12
Price spread: −0.104% → 0.000%: −$10.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$130.49
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; RISEx: 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 RISEx no order-book sample	—	—	—	—	—

GMX and RISEx: 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	−0.0803%	1h	0.4539	−0.033%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.595%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4541	0.000%	$35K	$437K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4541	−0.010%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4542	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4537	−0.088%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4542	+0.017%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4541	+0.002%	$67.9M	$227.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4540	−0.022%	$73.6M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4541	0.000%	$17.6M	$80.4M	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	0.4549	+0.170%	$74K	$89K	10x	as long as short
RISEx ONDO/USDCshort	+0.0100%	1h	0.4536	−0.104%	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4539	−0.044%	$11.9M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4542	+0.022%	$48.7M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4539	−0.044%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4540	−0.022%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4540	−0.022%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4542	+0.013%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	+0.110%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4545	+0.089%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.229%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4546	+0.110%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4541	+0.011%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4540	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4541	0.000%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4556	+0.331%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4542	+0.022%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4540	−0.014%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4536	−0.100%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4547	+0.143%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0147%	1h	0.4541	+0.011%	$40.2M	$26.7M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4548	+0.159%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4555	+0.309%	$298K	$845K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4540	−0.024%	$374	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4546	+0.110%	$3.3M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]long	L +0.0586% / S −0.0188%	1h	0.4541	long leg	$542K	—	100x
Lighter ONDO	+0.0760%	1h	0.4548	+0.163%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4540	−0.024%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3995%	1h	0.4539	−0.044%	$257K	$132K	5x	as long as short