ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: Phemex against BloFin−0.295%59s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.538% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.600%−$60 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.295%, 7d avg −0.018%

Together, before fees−0.419%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Phemex is 0.277% cheaper against BloFin than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.018%). Swap the legs. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4406	0.0340	pay 0.0170% / 4h	3h 54m	$3.1M	$3.1M	75x
Short	Phemex ONDOUSDT	0.4393	0.0100	get 0.0050% / 4h	3h 54m	$4.3M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. 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 BloFinbpFee PhemexbpOrdersPrice spread, now −0.295%Rate

Funding earned: −$50.4
Price spread: −0.295% → −0.018%: −$27.71
Slippage, 4 orders: −$29.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$131.95
Costs to cover: 0.538%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Phemex: live order book, 5 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 BloFin live order book, 4 min ago	1.14 bp	14.0 bp −$14	19.3 bp −$193	38.3 bp −$3,826	doesn't fit
Sell Phemex live order book, 5 min ago	2.28 bp	17.3 bp −$17	24.5 bp −$245	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	−0.0159%	1h	0.4392	−0.316%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4401	−0.111%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4396	−0.232%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.677%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4398	−0.186%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4394	−0.272%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4400	−0.125%	$363K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4398	−0.175%	$63.6M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4391	−0.340%	$68.1M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4393	−0.295%	$17.2M	$73.3M	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	0.4391	−0.331%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4403	−0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4394	−0.272%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4393	−0.295%	$44.2M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4397	−0.204%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4395	−0.250%	$25.2M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4393	−0.295%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4392	−0.309%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.369%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4394	−0.280%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.332%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4396	−0.227%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4399	−0.157%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4397	−0.204%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4395	−0.250%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4413	+0.159%	$130K	$434K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4393	−0.295%	$4.3M	$7.9M	50x
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4403	−0.078%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4393	−0.300%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	−0.238%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4402	−0.084%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4395	−0.250%	$18K	$367K	25x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4399	−0.168%	$761K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4406	0.000%	$272K	$732K	50x	as long as short
Hyperliquid ONDO	+0.0314%	1h	0.4397	−0.195%	$37.8M	$24.6M	10x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4406	long leg	$3.1M	$3.1M	75x
Phoenix ONDO	+0.0365%	1h	0.4398	−0.191%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4394	−0.277%	$522K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4396	−0.222%	$2K	—	20x	as long as short