Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.026%

Price spread now: GMX against Binance+0.029%7-day average −0.026% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.029%, 7d avg −0.026%

Together, before fees+0.057%+$6 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 0.055% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4316	0.0100	pay 0.0050% / 4h	11m 49s	$62.8M	$233.9M	75x
Short	GMX ONDO/USD [ETH-USDC]	0.4317	L +0.0573% / S −0.0203%	get 0.0025% / 1h	11m 49s	$494K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $21.72
Price spread: +0.029% → −0.026%: $5.55
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $5.27
Costs to cover: 0.220%
Break-even: 5.3 days

Slippage unknown: Binance: 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 Binance live order book, 2 min ago	1.16 bp	7.8 bp −$8	14.6 bp −$146	55.7 bp −$5,572	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	−0.0176%	1h	0.4315	−0.013%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4318	+0.046%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.850%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4319	+0.083%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4323	+0.167%	$346K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	+0.057%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4316	long leg	$62.8M	$233.9M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4314	−0.035%	$68.0M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4317	+0.034%	$17.3M	$71.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4324	+0.185%	$71K	$80K	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	0.4319	+0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4315	−0.012%	$13.0M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4314	−0.035%	$43.9M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4315	−0.012%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4316	+0.011%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4316	+0.011%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	−0.005%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4314	−0.039%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4314	−0.046%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4315	−0.012%	$403K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4311	−0.105%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4321	+0.131%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	+0.034%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4320	+0.104%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4317	+0.034%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4329	+0.312%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4317	+0.034%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4319	+0.089%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4315	−0.001%	$357K	$817K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4318	+0.057%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4317	+0.034%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4321	+0.118%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4318	+0.057%	$213K	$731K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4317	+0.043%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4319	+0.080%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0383%	1h	0.4321	+0.129%	$36.5M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0573% / S −0.0203%	1h	0.4317	+0.029%	$494K	—	100x
Reya ONDORUSDPERP	+0.1161%	1h	0.4321	+0.135%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1711%	1h	0.4318	+0.046%	$242K	$156K	5x	as long as short