Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0149%/8h= −16.4% APRpaid last 24h −0.047%

Price spread now: GMX against BloFin−0.045%7-day average −0.038% · you buy dearer than you sell

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.135%−$14 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now −0.045%, 7d avg −0.038%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4529	0.0340	pay 0.0170% / 4h	1h 46m	$3.2M	$3.1M	75x
Short	GMX ONDO/USD [ETH-USDC]	0.4527	L +0.0591% / S −0.0191%	get 0.0024% / 1h	46m 38s	$545K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$31.38
Price spread: −0.045% → −0.038%: −$0.73
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$56.11
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	4.42 bp	10.4 bp −$10	12.8 bp −$128	31.4 bp −$3,140	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	−0.0355%	1h	0.4526	−0.070%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4527	−0.035%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4529	0.000%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4537	+0.182%	$426K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4535	+0.126%	$760K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4533	+0.089%	$66.7M	$219.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4531	+0.044%	$73.5M	$117.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4530	+0.022%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4507	−0.488%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4531	+0.037%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4531	+0.044%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4531	+0.044%	$47.8M	$44.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4533	+0.088%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4531	+0.044%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4532	+0.066%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4530	+0.020%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4513	−0.351%	$795K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4515	−0.314%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4515	−0.310%	$426K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4538	+0.192%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4534	+0.110%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4529	0.000%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4546	+0.375%	$130K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4529	0.000%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4529	+0.005%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4531	+0.044%	$402K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4533	+0.088%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4521	−0.177%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.574%	$1K	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0192%	1h	0.4530	+0.022%	$19K	$364K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0236%	1h	0.4509	−0.442%	$159K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4533	+0.088%	$299K	$845K	50x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4529	long leg	$3.2M	$3.1M	75x
01 Exchange ONDOUSD	+0.0400%	1h	0.4538	+0.201%	$373	$2K	10x	as long as short
Hyperliquid ONDO	+0.0527%	1h	0.4539	+0.219%	$40.6M	$27.3M	10x	as long as short
Lighter ONDO	+0.0560%	1h	0.4538	+0.210%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0591% / S −0.0191%	1h	0.4527	−0.045%	$545K	—	100x
Reya ONDORUSDPERP	+0.1140%	1h	0.4534	+0.114%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1270%	1h	0.4533	+0.096%	$257K	$130K	5x	as long as short