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Price arb /

ONDO

all ONDO markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)+0.266%
7d average+0.029%if it closes, per $10,000$27funding while held, a day+$7.43
Long on BybitShort on GMX
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ONDOUSDT0.4425−0.0030get 0.0015% / 4h2h 13m$69.5M$114.8M50x
ShortGMX ONDO/USD [ETH-USDC]0.4437L +0.0620% / S −0.0218%get 0.0027% / 1h13m 40s$542K—100x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$26.58
Funding while held
$7.43
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee GMX: 6 bp × 2 orders
−$12
Net
$11.01
Spread needed to break even
0.230%
Slippage unknown: Bybit: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0248%
Per $10,000 a day
+$7.43
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 2 min ago1.13 bp8.8 bp −$914.0 bp −$14059.0 bp −$5,905doesn'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 price on every exchange

against the cheapest. Click to use as the short leg.
Bybit0.4425cheapest
OKX0.4426+0.023%Bitget0.4426+0.023%Gate0.4428+0.068%KuCoin0.4428+0.068%Binance0.4428+0.077%Extended0.4429+0.092%Hyperliquid0.4430+0.106%BingX0.4430+0.113%Orderly0.4430+0.113%SoDEX0.4430+0.113%Phemex0.4430+0.113%MEXC0.4431+0.136%Deribit0.4431+0.136%Aevo0.4431+0.147%Ondo Perps0.4432+0.165%Backpack0.4432+0.167%Aster0.4433+0.172%Kraken Futures0.4434+0.213%Lighter0.4435+0.224%Nado0.4435+0.226%Reya0.4436+0.244%SunX0.4436+0.249%RISEx0.4436+0.250%
GMX0.4437+0.266%
Paradex0.4437+0.268%Polymarket Perps0.4437+0.269%gTrade (Gains Network)0.4437+0.274%01 Exchange0.4439+0.310%Variational Omni0.4439+0.314%BloFin0.4439+0.316%Phoenix0.4440+0.341%dYdX0.4443+0.414%ApeX Omni0.4444+0.429%edgeX0.4446+0.470%HTX0.4447+0.497%Coinbase International0.4453+0.633%Injective0.4463+0.859%

ONDO on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit ONDOUSDTlong0.000%−0.0030%4h$69.5M$114.8M50x
OKX ONDO-USDT-SWAP+0.023%+0.0100%4h$17.5M$80.1M50xas long as short
Bitget ONDOUSDT+0.023%+0.0100%4h$25.0M$42.4M50xas long as short
Gate ONDO_USDT+0.068%+0.0048%4h$11.7M$18.8M50xas long as short
KuCoin ONDOUSDTM+0.068%+0.0100%4h$13.5M$9.8M50xas long as short
Binance ONDOUSDT+0.077%+0.0100%4h$66.0M$221.7M75xas long as short
Extended ONDO-USD+0.092%+0.0104%1h$374K$947K25xas long as short
Hyperliquid ONDO+0.106%+0.0100%1h$40.1M$26.2M10xas long as short
BingX ONDO-USDT+0.113%+0.0100%4h—$23.0M—as long as short
Orderly PERP_ONDO_USDC+0.113%+0.0098%4h$24K$8K10xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SoDEX ONDO-USD+0.113%+0.0100%1h$460$14K10xas long as short
Phemex ONDOUSDT+0.113%+0.0100%4h$4.9M$5.5M50xas long as short
MEXC ONDO_USDT+0.136%+0.0100%4h$47.2M$45.8M200xas long as short
Deribit ONDO_USDC-PERPETUAL+0.136%+0.0202%1h$20K$333K25xas long as short
Aevo ONDO-PERP+0.147%+0.0104%1h$35K—3xas long as short
Ondo Perps ONDO-USD.P+0.165%+0.0100%1h$74K$86K10xas long as short
Backpack ONDO_USDC_PERP+0.167%+0.0100%1h$240K$863K15xas long as short
Aster ONDOUSDT+0.172%+0.0100%4h$748K$1.9M20xas long as short
Kraken Futures PF_ONDOUSD+0.213%+0.0447%1h$3.5M$4.9M50xas long as short
Lighter ONDO+0.224%+0.0416%1h$1.2M$1.8M10xas long as short
Nado ONDO-PERP+0.226%+0.0100%1h$458K$621K10xas long as short
Reya ONDORUSDPERP+0.244%+0.1130%1h$2K—20xas long as short
SunX ONDO-USDT+0.249%+0.0100%4h—$1.4M20xas long as short
RISEx ONDO/USDC+0.250%+0.0100%1h——5xas long as short
GMX ONDO/USD [ETH-USDC]short+0.266%L +0.0620% / S −0.0218%1h$542K—100x
Paradex ONDO-USD-PERP+0.268%+0.0100%8h$6K$910xas long as short
Polymarket Perps ONDO-USD+0.269%+0.0100%1h$86K$981K10xas long as short
gTrade (Gains Network) ONDO/USD+0.274%L +0.0003% / S −0.0007%1h$7K—150xas long as short
01 Exchange ONDOUSD+0.310%+0.0232%1h$365$1K10xas long as short
Variational Omni ONDO+0.314%−0.0060%4h$772K$2.1M—as long as short
BloFin ONDO-USDT+0.316%+0.0340%4h$3.3M$3.2M75xas long as short
Phoenix ONDO+0.341%+0.0143%1h$28K$263K10xas long as short
dYdX ONDO-USD+0.414%+0.8942%1h$251K$116K5xas long as short
ApeX Omni ONDOUSDT+0.429%+0.0100%1h$177K$307K50xas long as short
edgeX ONDOUSDC+0.470%+0.0100%4h$5K$320K20xas long as short
HTX ONDO-USDT+0.497%+0.0100%4h$110K$525K50xas long as short
Coinbase International ONDO-PERP-INTX+0.633%+0.0560%1h$348K$787K50xas long as short
Injective ONDO/USDC PERP+0.859%−0.0508%1h$1K$49K5.5xas long as short