ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0367%/8h= −40.2% APRnext payment −$0.46 per $10,000 · paid last 24h −0.131%

Price spread now: Backpack against GMX−0.104%7-day average +0.024% · you buy dearer than you sell

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.444%−$44 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.104%, 7d avg +0.024%

Together, before fees−0.378%−$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Backpack is 0.128% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ONDO/USD [ETH-USDC]	0.4412	L +0.0552% / S −0.0190%	pay 0.0069% / 1h	11m 12s	$487K	—	100x
Short	Backpack ONDO_USDC_PERP	0.4407	0.0184	get 0.0023% / 1h	11m 12s	$191K	$979K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$77.12
Price spread: −0.104% → +0.024%: −$12.81
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$111.93
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 58 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 58 min ago	1.94 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit

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
dYdX ONDO-USD	+0.0001%	1h	0.4409	−0.056%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4413	+0.029%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.545%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4414	+0.059%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4414	+0.055%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4416	+0.100%	$373K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4417	+0.123%	$64.3M	$225.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4415	+0.077%	$70.0M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	+0.100%	$17.1M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	−0.249%	$73K	$86K	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	0.4414	+0.065%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4413	+0.032%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4417	+0.123%	$47.7M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4415	+0.077%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4416	+0.100%	$25.2M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4414	+0.055%	—	$761K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4430	+0.409%	$718K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4418	+0.134%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4411	−0.013%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	+0.123%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4416	+0.093%	$67K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4416	+0.100%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4416	+0.100%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4424	+0.281%	$130K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4416	+0.100%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4410	−0.031%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4416	+0.091%	$398K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4417	+0.115%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0142%	1h	0.4417	+0.134%	$38.3M	$24.3M	10x	as long as short
Aster ONDOUSDT	+0.0184%	4h	0.4417	+0.130%	$711K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERPshort	+0.0184%	1h	0.4407	−0.104%	$191K	$979K	15x
Phoenix ONDO	+0.0272%	1h	0.4427	+0.340%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4415	+0.077%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4419	+0.159%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.236%	$281K	$727K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4417	+0.123%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]long	L +0.0552% / S −0.0190%	1h	0.4412	long leg	$487K	—	100x
Lighter ONDO	+0.0856%	1h	0.4424	+0.272%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4414	+0.064%	$2K	—	20x	as long as short