Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.024%

Price spread now: GMX against edgeX−0.015%110s7-day average −0.015% · you buy dearer than you sell

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.015%, 7d avg −0.015%

Together, before fees+0.230%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4313	0.0100	pay 0.0050% / 4h	1h 29m	$5K	$318K	20x
Short	GMX ONDO/USD [ETH-USDC]	0.4313	L +0.0560% / S −0.0197%	get 0.0025% / 1h	29m 20s	$485K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. 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 edgeXbpFee GMXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $20.41
Price spread: −0.015% → −0.015%: $0.02
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.57
Costs to cover: 0.210%
Break-even: 7.2 days

Slippage unknown: edgeX: live order book, 14 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 edgeX live order book, 14 min ago	4.62 bp	9.1 bp −$9	19.0 bp −$190	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	−0.0147%	1h	0.4316	+0.071%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4313	−0.005%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0005%	1h	0.4314	+0.025%	$242K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.908%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4324	+0.260%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4320	+0.158%	$347K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4322	+0.208%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4320	+0.158%	$62.5M	$236.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4319	+0.135%	$67.6M	$124.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4320	+0.158%	$17.2M	$72.5M	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	0.4306	−0.164%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4314	+0.019%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4320	+0.158%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	+0.135%	$43.2M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	+0.158%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4318	+0.112%	$24.7M	$38.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4320	+0.158%	—	$23.4M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	+0.156%	$171K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.010%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4313	long leg	$5K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4315	+0.045%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	+0.089%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	+0.235%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4318	+0.112%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4323	+0.228%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4319	+0.135%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4328	+0.344%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	+0.158%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4323	+0.221%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4318	+0.111%	$391K	$786K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4321	+0.188%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0108%	1h	0.4324	+0.244%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4324	+0.253%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4319	+0.135%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.321%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4318	+0.119%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	+0.066%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0560% / S −0.0197%	1h	0.4313	−0.015%	$485K	—	100x
Reya ONDORUSDPERP	+0.1158%	1h	0.4318	+0.118%	$2K	—	20x	as long as short