Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0108%/8h= +11.8% APRnext payment +$0.14 per $10,000 · paid last 24h —

Price spread now: GMX against RISEx+0.034%7-day average — · you sell dearer than you buy

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.034% dearer against RISEx than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4330	0.0100	pay 0.0013% / 1h	36m 09s	—	—	5x
Short	GMX ONDO/USD [ETH-USDC]	0.4332	L +0.0582% / S −0.0208%	get 0.0026% / 1h	36m 09s	$501K	—	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 +0.034%Rate

Funding earned: $22.71
Price spread: +0.034% → 0.000%: $3.42
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $8.13
Costs to cover: 0.180%
Break-even: 4.5 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	−0.0176%	1h	0.4334	+0.083%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4335	+0.106%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4333	+0.050%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.486%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4339	+0.198%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4331	+0.025%	$345K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	+0.152%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4335	+0.108%	$63.3M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4333	+0.060%	$68.3M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4335	+0.106%	$17.3M	$71.7M	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	0.4337	+0.157%	$71K	$79K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4330	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4333	+0.060%	$13.3M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4334	+0.083%	$44.4M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4334	+0.083%	$12.2M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4335	+0.106%	$24.9M	$36.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4334	+0.083%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4335	+0.113%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4327	−0.084%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	+0.029%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	+0.036%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	+0.013%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4330	+0.002%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4332	+0.037%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	+0.037%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	+0.106%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4339	+0.198%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	+0.129%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4331	+0.017%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	+0.091%	$363K	$821K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	+0.129%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.221%	$214K	$720K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4340	+0.224%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4333	+0.057%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	+0.244%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0582% / S −0.0208%	1h	0.4332	+0.034%	$501K	—	100x
Hyperliquid ONDO	+0.0612%	1h	0.4340	+0.217%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4335	+0.112%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2870%	1h	0.4333	+0.065%	$243K	$155K	5x	as long as short