ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0506%/8h= −55.4% APRnext payment −$0.63 per $10,000 · paid last 24h −0.066%

Price spread now: Hyperliquid against GMX+0.035%7-day average +0.104% · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.216%−$22 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now +0.035%, 7d avg +0.104%

Together, before fees−0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Hyperliquid is 0.068% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ONDO/USD [ETH-USDC]	0.4381	L +0.0606% / S −0.0219%	pay 0.0076% / 1h	43m 44s	$520K	—	100x
Short	Hyperliquid ONDO	0.4382	0.0100	get 0.0013% / 1h	43m 44s	$37.6M	$24.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. 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 GMXbpFee HyperliquidbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$106.3
Price spread: +0.035% → +0.104%: −$6.82
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$134.12
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 10 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 10 min ago	0.23 bp	8.5 bp −$8	doesn't fit	doesn't fit	doesn't fit

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	0.4382	+0.021%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4379	−0.044%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.270%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4381	+0.001%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4384	+0.070%	$371K	$843K	10x	as long as short
Hyperliquid ONDOshort	+0.0100%	1h	0.4382	+0.035%	$37.6M	$24.5M	10x
Binance ONDOUSDT	+0.0100%	4h	0.4381	+0.001%	$63.1M	$229.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4378	−0.067%	$69.2M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4379	−0.045%	$16.8M	$72.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4369	−0.273%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4376	−0.119%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4377	−0.090%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4380	−0.022%	$46.0M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4379	−0.045%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4378	−0.067%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4379	−0.045%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4383	+0.047%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4374	−0.166%	$709K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	−0.273%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4355	−0.583%	$402K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4370	−0.250%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4383	+0.047%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4381	+0.001%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4381	+0.001%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4390	+0.207%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4381	+0.001%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	−0.085%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4377	−0.082%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	+0.008%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0192%	1h	0.4384	+0.070%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0216%	4h	0.4384	+0.070%	$737K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4377	−0.090%	$360	$2K	10x	as long as short
dYdX ONDO-USD	+0.0271%	1h	0.4377	−0.079%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.298%	$276K	$719K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4376	−0.113%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4377	−0.079%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4382	+0.024%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]long	L +0.0606% / S −0.0219%	1h	0.4381	long leg	$520K	—	100x
Reya ONDORUSDPERP	+0.1151%	1h	0.4384	+0.067%	$2K	—	20x	as long as short