ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h −0.101%

Price spread now: Phoenix against Coinbase International+0.295%72s7-day average −0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as 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−$550.553% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.834%−$83 on $10k

Price spread, last 4 days (all we have)−0.614%−$61 · spread now +0.295%, 7d avg −0.147%

Together, before fees−1.448%−$145 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.441% dearer against Coinbase International than usual: you sell high and buy low: +$44 more if the spread goes back to its 7-day average of −0.147%. Mind the row above: over the last 7 days funding on this pair cost −0.834%, so the current rate has only just turned in your favour. The two prices were read 72 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	Coinbase International ONDO-PERP-INTX	0.4343	0.0272	pay 0.0034% / 1h	12m 08s	$219K	$765K	50x
Short	Phoenix ONDO	0.4356	0.0327	get 0.0041% / 1h	12m 08s	$35K	$218K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.295%Rate

Funding earned: $11.53
Price spread: +0.295% → −0.147%: $44.13
Slippage, 4 orders: −$38.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $0.37
Costs to cover: 0.553%
Break-even: 6.8 days

Slippage from Coinbase International: live order book, 41 min ago; Phoenix: live order book, 35 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, 41 min ago	5.67 bp	17.3 bp −$17	43.8 bp −$438	doesn't fit	doesn't fit
Sell Phoenix live order book, 35 min ago	0.91 bp	12.6 bp −$13	43.8 bp −$438	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	−0.0162%	1h	0.4333	−0.223%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4336	−0.165%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.181%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4340	−0.071%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4335	−0.184%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	−0.023%	$358K	$843K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4336	−0.152%	$62.6M	$232.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4334	−0.207%	$67.4M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4338	−0.115%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4348	+0.122%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4343	−0.010%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.207%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	−0.184%	$42.8M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.184%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4336	−0.161%	$24.8M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4336	−0.161%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4335	−0.173%	$180K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4351	+0.178%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4354	+0.250%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4354	+0.246%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4356	+0.299%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4342	−0.016%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4338	−0.115%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	−0.161%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4341	−0.046%	$128K	$427K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4337	−0.138%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4343	+0.011%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4334	−0.201%	$391K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	−0.150%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0145%	4h	0.4339	−0.098%	$784K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0151%	1h	0.4336	−0.150%	$36.8M	$25.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4342	−0.025%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4335	−0.184%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0272%	1h	0.4343	long leg	$219K	$765K	50x
Phoenix ONDOshort	+0.0327%	1h	0.4356	+0.295%	$35K	$218K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4349	+0.138%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4336	−0.169%	$483K	—	100x	as long as short
dYdX ONDO-USD	+0.1039%	1h	0.4344	+0.028%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4340	−0.075%	$2K	—	20x	as long as short