Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.026%

Price spread now: GMX against OKX+0.005%7-day average +0.008% · you sell dearer than you buy

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.005%, 7d avg +0.008%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4320	0.0100	pay 0.0050% / 4h	3h 56m	$17.3M	$71.8M	50x
Short	GMX ONDO/USD [ETH-USDC]	0.4320	L +0.0573% / S −0.0203%	get 0.0025% / 1h	56m 10s	$494K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $21.72
Price spread: +0.005% → +0.008%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.59
Costs to cover: 0.220%
Break-even: 7.2 days

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	1.15 bp	8.6 bp −$9	16.9 bp −$169	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	−0.0177%	1h	0.4320	+0.001%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4323	+0.069%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4321	+0.021%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.741%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4325	+0.116%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4326	+0.145%	$346K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4325	+0.116%	$759K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4322	+0.042%	$63.1M	$234.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4318	−0.046%	$68.1M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4320	long leg	$17.3M	$71.8M	50x

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	0.4339	+0.428%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4330	+0.229%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4323	+0.069%	$13.1M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4320	0.000%	$44.0M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4323	+0.069%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4316	−0.093%	$24.6M	$36.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4317	−0.069%	—	$778K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	−0.109%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	+0.091%	$679K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4322	+0.055%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4324	+0.097%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4321	+0.023%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4324	+0.093%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4321	+0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4324	+0.093%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4322	+0.046%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4336	+0.370%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	0.000%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4331	+0.261%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	+0.020%	$366K	$827K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4324	+0.093%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	+0.440%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4328	+0.194%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4333	+0.296%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4335	+0.347%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0573% / S −0.0203%	1h	0.4320	+0.005%	$494K	—	100x
Hyperliquid ONDO	+0.0595%	1h	0.4328	+0.194%	$36.5M	$27.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4324	+0.081%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1625%	1h	0.4333	+0.308%	$243K	$155K	5x	as long as short