ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.106%

Price spread now: Deribit against Coinbase International−0.614%7-day average −0.202% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.764%−$76 on $10k

Price spread, last 4 days (all we have)+0.415%+$41 · spread now −0.614%, 7d avg −0.202%

Together, before fees−0.349%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.412% cheaper against Coinbase International than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.202%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4394	0.0328	pay 0.0041% / 1h	51m 10s	$276K	$719K	50x
Short	Deribit ONDO_USDC-PERPETUAL	0.4367	0.0208	get 0.0026% / 1h	51m 10s	$23K	$346K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.614%Rate

Funding earned: −$25.2
Price spread: −0.614% → −0.202%: −$41.21
Slippage, 4 orders: −$49.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$133.36
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 7 min ago; Deribit: live order book, 7 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 Coinbase International live order book, 7 min ago	12.60 bp	21.8 bp −$22	54.0 bp −$540	doesn't fit	doesn't fit
Sell Deribit live order book, 7 min ago	9.14 bp	12.6 bp −$13	doesn't fit	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4365	−0.669%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0017%	1h	0.4367	−0.610%	$247K	$129K	5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4365	−0.669%	$2.6M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.960%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4365	−0.660%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4367	−0.609%	$370K	$842K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4369	−0.560%	$37.6M	$24.4M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4371	−0.522%	$63.0M	$228.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4368	−0.592%	$69.2M	$123.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4369	−0.569%	$16.9M	$71.3M	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	0.4386	−0.173%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4366	−0.642%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4365	−0.660%	$11.5M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4369	−0.569%	$47.2M	$41.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4368	−0.592%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4369	−0.569%	$25.0M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4369	−0.569%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4369	−0.574%	$188K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4365	−0.666%	$707K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	−0.098%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4389	−0.113%	$405K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4387	−0.159%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4367	−0.619%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4367	−0.614%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4367	−0.614%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4375	−0.432%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4367	−0.614%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4368	−0.596%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4365	−0.653%	$397K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4368	−0.592%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0208%	1h	0.4367	−0.614%	$23K	$346K	25x
Aster ONDOUSDT	+0.0209%	4h	0.4369	−0.580%	$733K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4366	−0.644%	$359	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0328%	1h	0.4394	long leg	$276K	$719K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4365	−0.660%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4378	−0.357%	$35K	$223K	10x	as long as short
Lighter ONDO	+0.0568%	1h	0.4370	−0.542%	$1.1M	$2.4M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0615% / S −0.0224%	1h	0.4365	−0.663%	$526K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4367	−0.621%	$2K	—	20x	as long as short