Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.024%

Price spread now: GMX against Aster−0.026%7-day average −0.053% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now −0.026%, 7d avg −0.053%

Together, before fees−0.020%+ Points / potential airdropAster: Stage 5 · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.027% dearer against Aster than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.053%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.6 days. Mind the row above: over the last 3 days funding on this pair paid +0.083%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4393	0.0229	pay 0.0115% / 4h	24m 24s	$739K	$2.5M	20x
Short	GMX ONDO/USD [ETH-USDC]	0.4392	L +0.0607% / S −0.0219%	get 0.0027% / 1h	24m 24s	$522K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$2.19
Price spread: −0.026% → −0.053%: $2.69
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$19.5
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 4 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 Aster live order book, 4 min ago	1.14 bp	5.1 bp −$5	34.1 bp −$341	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4393	−0.013%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4393	−0.010%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.973%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4395	+0.040%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4392	−0.033%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4391	−0.045%	$363K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4396	+0.065%	$37.6M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4396	+0.050%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4392	−0.033%	$67.9M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4393	−0.011%	$17.1M	$73.3M	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	0.4398	+0.103%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4392	−0.044%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4393	−0.011%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4394	+0.012%	$44.4M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4393	−0.011%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4394	+0.012%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4395	+0.035%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4392	−0.026%	$188K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.222%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	−0.122%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4393	−0.012%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.102%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4394	+0.021%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	−0.011%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4395	+0.035%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4401	+0.172%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4392	−0.033%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4394	+0.007%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4391	−0.065%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	+0.041%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0216%	1h	0.4394	+0.021%	$362	$2K	10x	as long as short
Aster ONDOUSDTlong	+0.0229%	4h	0.4393	long leg	$739K	$2.5M	20x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4404	+0.240%	$272K	$731K	50x	as long as short
dYdX ONDO-USD	+0.0338%	1h	0.4392	−0.030%	$249K	$129K	5x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4392	−0.033%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4392	−0.042%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0433%	1h	0.4395	+0.035%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0607% / S −0.0219%	1h	0.4392	−0.026%	$522K	—	100x
Reya ONDORUSDPERP	+0.1152%	1h	0.4394	+0.012%	$2K	—	20x	as long as short