Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.024%

Price spread now: GMX against GRVT+0.158%7-day average −0.005% · you sell dearer than you buy

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

Long on GRVT 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)−0.118%−$12 · spread now +0.158%, 7d avg −0.005%

Together, before fees−0.030%+ Points / potential airdropGRVT: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.163% dearer against GRVT than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4313	0.0100	pay 0.0050% / 4h	2h 20m	$398K	$1.3M	10x
Short	GMX ONDO/USD [ETH-USDC]	0.4320	L +0.0570% / S −0.0202%	get 0.0025% / 1h	20m 52s	$493K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against GRVT. 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 GRVTbpFee GMXbpOrdersPrice spread, now +0.158%Rate

Funding earned: $21.43
Price spread: +0.158% → −0.005%: $16.27
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $16.7
Costs to cover: 0.210%
Break-even: 1.5 days

Slippage unknown: GRVT: 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 GRVT live order book, 2 min ago	3.47 bp	11.9 bp −$12	42.5 bp −$425	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	−0.0242%	1h	0.4318	+0.114%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4320	+0.162%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0013%	1h	0.4320	+0.153%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.914%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4324	+0.257%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4327	+0.326%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4327	+0.329%	$36.1M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4329	+0.365%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4329	+0.363%	$62.3M	$236.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4326	+0.303%	$67.5M	$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	0.4330	+0.396%	$17.2M	$73.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4298	−0.355%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4324	+0.246%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4323	+0.234%	$12.1M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.419%	$43.0M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4326	+0.303%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4332	+0.442%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4324	+0.257%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	+0.190%	$177K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	+0.158%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4307	−0.137%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4313	long leg	$398K	$1.3M	10x
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4306	−0.161%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4328	+0.340%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4321	+0.187%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4327	+0.326%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4322	+0.210%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4333	+0.465%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4323	+0.234%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4325	+0.273%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4329	+0.379%	$389K	$795K	25x	as long as short
01 Exchange ONDOUSD	+0.0104%	1h	0.4327	+0.336%	$356	$2K	10x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	+0.210%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4323	+0.234%	$217K	$757K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4311	−0.054%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.187%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0445%	1h	0.4321	+0.187%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0570% / S −0.0202%	1h	0.4320	+0.158%	$493K	—	100x
Reya ONDORUSDPERP	+0.1156%	1h	0.4326	+0.303%	$2K	—	20x	as long as short