Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.024%

Price spread now: GMX against SunX−0.084%7-day average −0.004% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.084%, 7d avg −0.004%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.081% cheaper against SunX than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of −0.004%). If the spread goes back, that is −$8 on $10k: about 2.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4299	0.0100	pay 0.0050% / 4h	2h 27m	—	$1.4M	20x
Short	GMX ONDO/USD [ETH-USDC]	0.4295	L +0.0560% / S −0.0197%	get 0.0025% / 1h	27m 48s	$483K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $20.41
Price spread: −0.084% → −0.004%: −$8.07
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$7.66
Costs to cover: 0.200%
Break-even: 9.6 days

Slippage unknown: SunX: live order book, 7 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 SunX live order book, 7 min ago	47.58 bp	70.3 bp −$70	doesn't fit	doesn't fit	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	−0.0243%	1h	0.4297	−0.035%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4296	−0.074%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0015%	1h	0.4297	−0.051%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.257%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0080%	1h	0.4301	+0.058%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4303	+0.100%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4297	−0.052%	$348K	$877K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4300	+0.016%	$35.9M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4302	+0.070%	$769K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	+0.047%	$61.9M	$236.0M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4297	−0.047%	$67.1M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4298	−0.023%	$17.1M	$72.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4295	−0.081%	$70K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4298	−0.027%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4297	−0.047%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4298	−0.023%	$42.4M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4298	−0.023%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4299	0.000%	$24.6M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4299	0.000%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4301	+0.058%	$176K	$989K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4295	−0.097%	$649K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4302	+0.074%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4298	−0.013%	$401K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4300	+0.023%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4299	−0.002%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4297	−0.047%	$23K	$6K	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4299	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4299	0.000%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4305	+0.140%	$127K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4300	+0.023%	$4.1M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4298	−0.012%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4297	−0.051%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4301	+0.058%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0215%	1h	0.4300	+0.023%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.093%	$218K	$764K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4306	+0.163%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4309	+0.233%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]short	L +0.0560% / S −0.0197%	1h	0.4295	−0.084%	$483K	—	100x
Reya ONDORUSDPERP	+0.1156%	1h	0.4297	−0.046%	$2K	—	20x	as long as short