ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0253%/8h= +27.8% APRnext payment +$0.32 per $10,000 · paid last 24h +0.077%

Price spread now: Hyperliquid against Deribit+0.095%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.320%+$32 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.095%, 7d avg +0.082%

Together, before fees+0.364%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.082%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4547	0	get 0.0000% / 1h	35m 07s	$36K	$436K	25x
Short	Hyperliquid ONDO	0.4551	0.0253	get 0.0032% / 1h	35m 07s	$40.3M	$26.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.095%Rate

Funding earned: $53.22
Price spread: +0.095% → +0.082%: $1.24
Slippage, 4 orders: −$22.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $16.02
Costs to cover: 0.384%
Break-even: 4.9 days

Slippage from Deribit: live order book, 44 min ago; Hyperliquid: live order book, 8 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 Deribit live order book, 44 min ago	4.34 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.11 bp	10.0 bp −$10	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
Kraken Futures PF_ONDOUSD	−0.0802%	1h	0.4547	−0.002%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.462%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUALlong	0.0000%	1h	0.4547	long leg	$36K	$436K	25x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4547	+0.007%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4546	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4548	+0.033%	$437K	$711K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4550	+0.077%	$721K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4548	+0.014%	$68.1M	$228.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4548	+0.022%	$73.7M	$123.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4547	0.000%	$17.7M	$81.0M	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	0.4544	−0.064%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4550	+0.076%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4545	−0.044%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4547	0.000%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4548	+0.022%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4548	+0.022%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4548	+0.022%	—	$741K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4549	+0.051%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4545	−0.044%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	+0.086%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.088%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	+0.132%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4553	+0.123%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4551	+0.088%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4547	0.000%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4559	+0.264%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4548	+0.022%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4548	+0.025%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4546	−0.015%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4550	+0.066%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4555	+0.167%	$38K	$257K	10x	as long as short
Hyperliquid ONDOshort	+0.0253%	1h	0.4551	+0.095%	$40.3M	$26.6M	10x
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4548	+0.022%	$297K	$850K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4547	0.000%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4554	+0.150%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4547	+0.002%	$543K	—	100x	as long as short
Lighter ONDO	+0.0824%	1h	0.4555	+0.185%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4549	+0.053%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4497%	1h	0.4546	−0.017%	$257K	$132K	5x	as long as short