Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0086%/8h= +9.5% APRpaid last 24h +0.028%

Price spread now: GMX against Gate+0.040%7-day average +0.031% · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.086%+$9 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.040%, 7d avg +0.031%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4451	0.0100	pay 0.0050% / 4h	2h 46m	$11.7M	$16.0M	50x
Short	GMX ONDO/USD [ETH-USDC]	0.4453	L +0.0581% / S −0.0186%	get 0.0023% / 1h	46m 45s	$532K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $18.16
Price spread: +0.040% → +0.031%: $0.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$8.02
Costs to cover: 0.270%
Break-even: 10.1 days

Slippage unknown: Gate: 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 Gate live order book, 2 min ago	2.24 bp	18.2 bp −$18	38.4 bp −$384	47.5 bp −$4,745	77.6 bp −$38.8K
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	−0.0359%	1h	0.4452	+0.026%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4452	+0.019%	$252K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4454	+0.065%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.629%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4453	+0.045%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4459	+0.174%	$406K	$780K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4451	−0.003%	$685K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4450	−0.013%	$65.6M	$227.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4446	−0.112%	$71.6M	$122.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4446	−0.112%	$17.2M	$76.2M	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	0.4464	+0.297%	$73K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4443	−0.172%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4451	long leg	$11.7M	$16.0M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4445	−0.135%	$45.0M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4448	−0.067%	$13.5M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4445	−0.135%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4444	−0.157%	—	$755K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4453	+0.043%	$202K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4468	+0.378%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4470	+0.436%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4470	+0.428%	$421K	$952K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4470	+0.427%	$165K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4457	+0.139%	$77K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4455	+0.090%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4454	+0.067%	$463	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4468	+0.382%	$131K	$500K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4450	−0.020%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4444	−0.161%	$402K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4454	+0.071%	$39K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0199%	1h	0.4455	+0.090%	$33K	$339K	25x	as long as short
Hyperliquid ONDO	+0.0259%	1h	0.4456	+0.108%	$39.4M	$25.4M	10x	as long as short
01 Exchange ONDOUSD	+0.0320%	1h	0.4461	+0.229%	$367	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4469	+0.404%	$290K	$800K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4476	+0.550%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	+0.449%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0581% / S −0.0186%	1h	0.4453	+0.040%	$532K	—	100x
Phemex ONDOUSDT	+0.0588%	4h	0.4458	+0.157%	$4.3M	$7.3M	50x	as long as short
Lighter ONDO	+0.0648%	1h	0.4454	+0.063%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4456	+0.107%	$2K	—	20x	as long as short