Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0097%/8h= +10.6% APRnext payment +$0.12 per $10,000 · paid last 24h —

Price spread now: GMX against RISEx−0.079%46s7-day average — · you buy dearer than you sell

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

Long on RISEx Short on GMX

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.079% cheaper against RISEx than usual: you would sell low and buy high (spread −0.079% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ONDO/USDC	0.4329	0.0100	pay 0.0013% / 1h	41m 30s	—	—	5x
Short	GMX ONDO/USD [ETH-USDC]	0.4325	L +0.0561% / S −0.0197%	get 0.0025% / 1h	41m 30s	$487K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against RISEx. 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 RISExbpFee GMXbpOrdersPrice spread, now −0.079%Rate

Funding earned: $20.41
Price spread: −0.079% → 0.000%: −$7.85
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$5.44
Costs to cover: 0.180%
Break-even: 8.9 days

Slippage unknown: RISEx: no order-book sample; 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 RISEx no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

RISEx and 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	−0.0146%	1h	0.4325	−0.079%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4330	+0.027%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4326	−0.063%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.524%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4334	+0.121%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4324	−0.124%	$347K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4332	+0.081%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4330	+0.026%	$62.8M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4328	−0.020%	$67.4M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4329	+0.003%	$17.2M	$73.4M	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	0.4326	−0.069%	$71K	$82K	10x	as long as short
RISEx ONDO/USDClong	+0.0100%	1h	0.4329	long leg	—	—	5x
Gate ONDO_USDT	+0.0100%	4h	0.4328	−0.020%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4329	+0.003%	$42.7M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	+0.003%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4329	+0.003%	$24.8M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4329	+0.003%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4327	−0.036%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.118%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.046%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	+0.026%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	+0.049%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4330	+0.033%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4326	−0.066%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4327	−0.043%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4326	−0.066%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4334	+0.119%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4327	−0.043%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4330	+0.037%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4329	−0.002%	$393K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4328	−0.020%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4330	+0.031%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4326	−0.066%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0240%	1h	0.4330	+0.031%	$36.3M	$27.3M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4339	+0.234%	$214K	$728K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4334	+0.121%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4327	−0.043%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0561% / S −0.0197%	1h	0.4325	−0.079%	$487K	—	100x
Reya ONDORUSDPERP	+0.1158%	1h	0.4328	−0.026%	$2K	—	20x	as long as short