ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against ApeX Omni−0.161%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.161%, 7d avg −0.021%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.140% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of −0.021%). If the spread goes back, that is −$14 on $10k: about 13 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.002% in total) that is about 19 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ONDOUSDT	0.4607	0.0100	pay 0.0013% / 1h	17m 05s	$165K	$330K	50x
Short	Backpack ONDO_USDC_PERP	0.4600	0.0136	get 0.0017% / 1h	17m 05s	$232K	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.161%Rate

Funding earned: $7.49
Price spread: −0.161% → −0.021%: −$13.98
Slippage, 4 orders: −$17.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$44.29
Costs to cover: 0.378%
Break-even: 48.4 days

Slippage from ApeX Omni: live order book, 65 min ago; Backpack: live order book, 2 min ago.

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 ApeX Omni live order book, 65 min ago	2.20 bp	10.5 bp −$11	27.7 bp −$277	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.11 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	−0.0350%	1h	0.4593	−0.308%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.129%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4601	−0.130%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4606	−0.033%	$435K	$703K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4599	−0.182%	$738K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4593	−0.308%	$67.9M	$227.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4591	−0.347%	$74.7M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4590	−0.369%	$18.0M	$81.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4619	+0.269%	$75K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4605	−0.054%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4598	−0.195%	$12.0M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4599	−0.174%	$49.7M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4596	−0.239%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4595	−0.260%	$26.1M	$41.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4600	−0.152%	—	$22.6M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4604	−0.067%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4605	−0.042%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	+0.109%	$425K	$947K	10x	as long as short
ApeX Omni ONDOUSDTlong	+0.0100%	1h	0.4607	long leg	$165K	$330K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4605	−0.052%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4601	−0.130%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4598	−0.195%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4617	+0.217%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4598	−0.195%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4602	−0.109%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4595	−0.264%	$411K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4598	−0.192%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERPshort	+0.0136%	1h	0.4600	−0.161%	$232K	$1.0M	15x
Phoenix ONDO	+0.0142%	1h	0.4601	−0.137%	$37K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.847%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	−0.260%	$301K	$874K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4602	−0.109%	$3.3M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0402%	1h	0.4605	−0.043%	$31K	$432K	25x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4611	+0.080%	$379	$2K	10x	as long as short
Hyperliquid ONDO	+0.0433%	1h	0.4605	−0.046%	$41.4M	$26.5M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0187%	1h	0.4601	−0.138%	$549K	—	100x	as long as short
Lighter ONDO	+0.0696%	1h	0.4610	+0.054%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4602	−0.106%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4309%	1h	0.4600	−0.154%	$260K	$129K	5x	as long as short