ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0537%/8h= +58.8% APRnext payment +$2.68 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit−0.023%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now −0.023%, 7d avg +0.047%

Together, before fees−0.121%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.069% cheaper against Bybit than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.047%). If the spread goes back, that is −$7 on $10k: about 10 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.123%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.123% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4416	0.0100	pay 0.0050% / 4h	2h 24m	$70.0M	$125.5M	50x
Short	Phemex ONDOUSDT	0.4415	0.0637	get 0.0318% / 4h	2h 24m	$4.2M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.023%Rate

Funding earned: $112.69
Price spread: −0.023% → +0.047%: −$6.92
Slippage, 4 orders: −$39.07
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $43.7
Costs to cover: 0.621%
Break-even: 4.3 days

Slippage from Bybit: live order book, 5 min ago; Phemex: 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 Bybit live order book, 5 min ago	1.13 bp	9.6 bp −$10	15.1 bp −$151	54.6 bp −$5,461	doesn't fit
Sell Phemex live order book, 4 min ago	13.60 bp	22.5 bp −$23	33.8 bp −$338	doesn't fit	doesn't fit

ONDO on 38 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	−0.0362%	1h	0.4414	−0.042%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4415	−0.017%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4419	+0.065%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.442%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4419	+0.068%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4417	+0.034%	$387K	$860K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4417	+0.023%	$673K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4415	−0.023%	$64.1M	$231.5M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4416	long leg	$70.0M	$125.5M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4416	0.000%	$17.1M	$75.8M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4400	−0.365%	$72K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4414	−0.039%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4413	−0.068%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4413	−0.068%	$44.2M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4418	+0.045%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4415	−0.023%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4416	0.000%	—	$762K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4422	+0.131%	$770K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4418	+0.049%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	+0.065%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.023%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4423	+0.152%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4420	+0.091%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4420	+0.091%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4426	+0.226%	$130K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4414	−0.036%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4415	−0.015%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4422	+0.136%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0119%	1h	0.4417	+0.016%	$202K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4420	+0.091%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0297%	1h	0.4420	+0.091%	$39.1M	$25.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.136%	$284K	$746K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	+0.192%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4417	+0.025%	$364	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4419	+0.068%	$488K	—	100x	as long as short
Phemex ONDOUSDTshort	+0.0637%	4h	0.4415	−0.023%	$4.2M	$7.4M	50x
Lighter ONDO	+0.0808%	1h	0.4426	+0.217%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4421	+0.108%	$2K	—	20x	as long as short