ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.09 per $10,000 · paid last 24h +0.044%

Price spread now: Lighter against Coinbase International−0.842%7-day average −0.113% · 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−$133as in the Price arb table

costs, in and out, $10k−$610.605% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.536%−$54 on $10k

Price spread, last 4 days (all we have)+0.794%+$79 · spread now −0.842%, 7d avg −0.113%

Together, before fees+0.258%+ Points / potential airdropLighter: Season 3 · farm board+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.729% cheaper against Coinbase International than usual: you would sell low and buy high (−$73 if the spread goes back to its 7-day average of −0.113%). 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	49m 01s	$276K	$719K	50x
Short	Lighter ONDO	0.4357	0.0256	get 0.0032% / 1h	49m 01s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.842%Rate

Funding earned: −$15.12
Price spread: −0.842% → −0.113%: −$72.86
Slippage, 4 orders: −$50.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$148.5
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 9 min ago; Lighter: live order book, 3 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, 9 min ago	12.60 bp	21.8 bp −$22	54.0 bp −$540	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	8.12 bp	12.8 bp −$13	23.3 bp −$233	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	0.4349	−1.015%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0014%	1h	0.4352	−0.965%	$246K	$129K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.960%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4351	−0.982%	$2.6M	$8.0M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4349	−1.024%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4349	−1.013%	$368K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4356	−0.867%	$37.4M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4355	−0.883%	$62.8M	$228.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4355	−0.888%	$68.9M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4356	−0.865%	$16.7M	$71.8M	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	0.4339	−1.254%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4347	−1.069%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4352	−0.956%	$11.5M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4354	−0.910%	$45.7M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4353	−0.933%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4357	−0.842%	$24.9M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4354	−0.910%	—	$21.8M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4354	−0.904%	$187K	$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	0.4366	−0.637%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4351	−0.974%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4351	−0.979%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4352	−0.956%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4358	−0.819%	$126K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4352	−0.956%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4353	−0.940%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4357	−0.847%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4351	−0.979%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0208%	4h	0.4350	−0.992%	$730K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4350	−1.010%	$358	$2K	10x	as long as short
Lighter ONDOshort	+0.0256%	1h	0.4357	−0.842%	$1.1M	$2.4M	10x
Coinbase International ONDO-PERP-INTXlong	+0.0328%	1h	0.4394	long leg	$276K	$719K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4352	−0.956%	$3.1M	$2.9M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4354	−0.919%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4352	−0.956%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0548% / S −0.0190%	1h	0.4349	−1.024%	$480K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4351	−0.979%	$2K	—	20x	as long as short