Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0102%/8h= +11.2% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: GMX against RISEx−0.166%7-day average — · you buy dearer than you sell

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

Long on RISEx Short on GMX

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

Funding pays, the price is against you. GMX is 0.166% cheaper against RISEx than usual: you would sell low and buy high (spread −0.166% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4353	0.0100	pay 0.0013% / 1h	58m 09s	—	—	5x
Short	GMX ONDO/USD [ETH-USDC]	0.4346	L +0.0572% / S −0.0202%	get 0.0025% / 1h	58m 09s	$496K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against RISEx. 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 RISExbpFee GMXbpOrdersPrice spread, now −0.166%Rate

Funding earned: $21.43
Price spread: −0.166% → 0.000%: −$16.61
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$13.18
Costs to cover: 0.180%
Break-even: 11.3 days

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

RISEx and 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	−0.0146%	1h	0.4344	−0.224%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4349	−0.088%	$244K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4345	−0.188%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.933%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4349	−0.098%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4351	−0.052%	$347K	$894K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4349	−0.095%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4346	−0.167%	$63.1M	$238.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4344	−0.213%	$67.8M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4344	−0.213%	$17.3M	$73.9M	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	0.4351	−0.048%	$71K	$83K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4353	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4346	−0.167%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4344	−0.213%	$43.6M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4347	−0.144%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4345	−0.190%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4345	−0.190%	—	$23.7M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4348	−0.128%	$645K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4351	−0.049%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	−0.015%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4350	−0.075%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4355	+0.047%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4344	−0.213%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4345	−0.190%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4346	−0.167%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4366	+0.292%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4344	−0.213%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4352	−0.038%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4344	−0.219%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4346	−0.156%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0210%	1h	0.4346	−0.167%	$18K	$362K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0214%	1h	0.4345	−0.185%	$181K	$992K	15x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4358	+0.097%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4366	+0.292%	$217K	$730K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4361	+0.184%	$35K	$222K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4347	−0.144%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0572% / S −0.0202%	1h	0.4346	−0.166%	$496K	—	100x
Hyperliquid ONDO	+0.0603%	1h	0.4349	−0.096%	$36.7M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4350	−0.082%	$2K	—	20x	as long as short