ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0340%/8h= −37.2% APRnext payment −$0.43 per $10,000 · paid last 24h +0.047%

Price spread now: Kraken Futures against Backpack+0.037%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.037%, 7d avg +0.046%

Together, before fees+0.218%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.261%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4344	0.0100	pay 0.0013% / 1h	59m 31s	$181K	$992K	15x
Short	Kraken Futures PF_ONDOUSD	0.4346	−0.0240	pay 0.0030% / 1h	59m 31s	$2.6M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$71.41
Price spread: +0.037% → +0.046%: −$0.86
Slippage, 4 orders: −$26.37
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$118.64
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from Backpack: live order book, 54 min ago; Kraken Futures: live order book, 4 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, 54 min ago	1.27 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.59 bp	18.1 bp −$18	26.7 bp −$267	365.9 bp −$36.6K	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_ONDOUSDshort	−0.0240%	1h	0.4346	+0.037%	$2.6M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4346	+0.033%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0008%	1h	0.4341	−0.071%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.152%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4347	+0.062%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	−0.045%	$347K	$895K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4346	+0.040%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4344	−0.002%	$63.1M	$238.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4342	−0.051%	$67.8M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	−0.028%	$17.3M	$73.9M	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	0.4351	+0.161%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4341	−0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4342	−0.051%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4343	−0.028%	$43.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	−0.051%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4344	−0.005%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4343	−0.028%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4344	long leg	$181K	$992K	15x
Variational Omni ONDO	+0.0100%	4h	0.4348	+0.080%	$645K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4351	+0.160%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	+0.194%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4350	+0.134%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4348	+0.092%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4347	+0.064%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	+0.203%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4346	+0.041%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	+0.249%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4347	+0.064%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4342	−0.060%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4343	−0.034%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4350	+0.122%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4344	−0.016%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4366	+0.502%	$217K	$756K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4361	+0.394%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4353	+0.203%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0441%	1h	0.4347	+0.064%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4345	+0.023%	$495K	—	100x	as long as short
Hyperliquid ONDO	+0.0709%	1h	0.4348	+0.076%	$36.7M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4346	+0.052%	$2K	—	20x	as long as short