ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0238%/8h= −26.0% APRnext payment −$0.30 per $10,000 · paid last 24h +0.006%

Price spread now: GMX against Deribit−0.055%54s7-day average −0.025% · you buy dearer than you sell

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

Long on Deribit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.055%, 7d avg −0.025%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and GMX is 0.030% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.025%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.006% in total (about -0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4343	0.0441	pay 0.0055% / 1h	13m 29s	$18K	$351K	25x
Short	GMX ONDO/USD [ETH-USDC]	0.4341	L +0.0574% / S −0.0203%	get 0.0025% / 1h	13m 29s	$496K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Deribit. 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 DeribitbpFee GMXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$49.89
Price spread: −0.055% → −0.025%: −$3
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$71.88
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 30 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 Deribit live order book, 30 min ago	6.92 bp	10.4 bp −$10	doesn't fit	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	−0.0146%	1h	0.4340	−0.064%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.063%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0016%	1h	0.4339	−0.102%	$244K	$140K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.181%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4346	+0.071%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4343	−0.006%	$348K	$890K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	+0.046%	$781K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4344	+0.023%	$62.8M	$234.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4341	−0.046%	$68.1M	$122.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4344	+0.023%	$17.3M	$72.3M	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	0.4336	−0.166%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4342	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4341	−0.046%	$12.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4342	−0.023%	$43.7M	$42.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4340	−0.069%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4343	0.000%	$24.8M	$37.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4342	−0.023%	—	$23.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4342	−0.014%	$178K	$996K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.098%	$723K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4339	−0.083%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4340	−0.069%	$406K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4340	−0.069%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	+0.016%	$62K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4341	−0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4342	−0.023%	$451	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4346	+0.069%	$129K	$399K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4340	−0.069%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4342	−0.029%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4342	−0.029%	$358K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	+0.027%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0230%	1h	0.4348	+0.113%	$36.6M	$27.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4345	+0.055%	$358	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4342	−0.023%	$215K	$728K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4344	+0.012%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	−0.092%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0441%	1h	0.4343	long leg	$18K	$351K	25x
GMX ONDO/USD [ETH-USDC]short	L +0.0574% / S −0.0203%	1h	0.4341	−0.055%	$496K	—	100x
Reya ONDORUSDPERP	+0.1159%	1h	0.4343	−0.007%	$2K	—	20x	as long as short