ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.26 per $10,000 · paid last 24h +0.142%

Price spread now: Coinbase International against Backpack+0.018%7-day average +0.209% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.755%+$75 on $10k

Price spread, last 3 days (all we have)+0.182%+$18 · spread now +0.018%, 7d avg +0.209%

Together, before fees+0.936%+$94 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.191% cheaper against Backpack than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.209%). If the spread goes back, that is −$19 on $10k: about 3.1 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4544	0.0100	pay 0.0013% / 1h	34m 13s	$229K	$1.0M	15x
Short	Coinbase International ONDO-PERP-INTX	0.4545	0.0304	get 0.0038% / 1h	34m 13s	$297K	$850K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.018%Rate

Funding earned: $42.84
Price spread: +0.018% → +0.209%: −$19.15
Slippage, 4 orders: −$52.58
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$48.89
Costs to cover: 0.726%
Break-even: 15.0 days

Slippage from Backpack: live order book, 5 min ago; Coinbase International: live order book, 44 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 Backpack live order book, 5 min ago	1.21 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 44 min ago	9.80 bp	29.7 bp −$30	83.6 bp −$836	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	−0.0803%	1h	0.4540	−0.088%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.524%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4542	−0.058%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4541	−0.070%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4541	−0.065%	$437K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4546	+0.032%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4543	−0.026%	$68.0M	$228.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4541	−0.070%	$73.6M	$123.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4542	−0.048%	$17.6M	$80.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.002%	$74K	$89K	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	0.4544	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4539	−0.114%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4542	−0.048%	$48.8M	$43.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4543	−0.026%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4542	−0.048%	$25.7M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4542	−0.048%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4544	long leg	$229K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4545	+0.017%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	+0.147%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.150%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	+0.194%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4545	+0.020%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4543	−0.026%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4542	−0.048%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4557	+0.282%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4544	−0.004%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4546	+0.039%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4541	−0.075%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4545	+0.007%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4543	−0.026%	$35K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0241%	1h	0.4545	+0.020%	$40.2M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4555	+0.229%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0304%	1h	0.4545	+0.018%	$297K	$850K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4547	+0.062%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4548	+0.075%	$374	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4541	−0.078%	$542K	—	100x	as long as short
Lighter ONDO	+0.0816%	1h	0.4551	+0.156%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4542	−0.049%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4379%	1h	0.4546	+0.045%	$257K	$132K	5x	as long as short