ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0089%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.030%

Price spread now: gTrade (Gains Network) against Backpack−0.097%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.097% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4336	0.0100	pay 0.0013% / 1h	39m 52s	$179K	$1.0M	15x
Short	gTrade (Gains Network) ONDO/USD	0.4332	L +0.0003% / S −0.0011%	get 0.0001% / 1h	39m 52s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.097%Rate

Funding earned: −$18.76
Price spread: −0.097% → 0.000%: −$9.69
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$48.44
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 4 min ago; gTrade (Gains Network): 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 Backpack live order book, 4 min ago	1.38 bp	12.8 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0176%	1h	0.4337	+0.015%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4335	−0.035%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4332	−0.097%	$7K	—	150x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.338%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4340	+0.085%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4332	−0.104%	$346K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4334	−0.058%	$759K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4332	−0.103%	$63.3M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4330	−0.150%	$68.3M	$121.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4331	−0.127%	$17.3M	$71.7M	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	0.4327	−0.219%	$71K	$79K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4329	−0.164%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4331	−0.127%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	−0.127%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.035%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4332	−0.104%	$24.9M	$36.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4332	−0.104%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4336	long leg	$179K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4327	−0.224%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4341	+0.094%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	−0.152%	$399K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4341	+0.104%	$134K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4331	−0.127%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4333	−0.081%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4331	−0.127%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	−0.012%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.081%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4335	−0.035%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4333	−0.084%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4330	−0.142%	$363K	$832K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	−0.013%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	+0.058%	$214K	$719K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4344	+0.180%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4332	−0.104%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	−0.104%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4333	−0.085%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0615%	1h	0.4335	−0.030%	$36.5M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4332	−0.104%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2502%	1h	0.4335	−0.044%	$243K	$155K	5x	as long as short