ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.365%

Price spread now: Injective against Deribit+6.060%7-day average −0.764% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.421%−$342 on $10k

Price spread, last 4 days (all we have)−6.769%−$677 · spread now +6.060%, 7d avg −0.764%

Together, before fees−10.190%−$1,019 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 6.824% dearer against Deribit than usual: you sell high and buy low (spread +6.060% now, against its 7-day average of −0.764%): +$682 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−3.421% in total) that is about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4307	0.0215	pay 0.0027% / 1h	38m 33s	$18K	$362K	25x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	38m 33s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +6.060%Rate

Funding earned: −$38.15
Price spread: +6.060% → −0.764%: $682.36
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $637.19
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: live order book, 10 min ago; Injective: no order-book sample. Net counts fees only.

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, 10 min ago	5.76 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0243%	1h	0.4301	−0.136%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4303	−0.092%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0023%	1h	0.4306	−0.015%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+6.060%	$888	$216K	5.5x
01 Exchange ONDOUSD	+0.0048%	1h	0.4309	+0.044%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4311	+0.093%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4304	−0.070%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4302	−0.122%	$350K	$876K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4309	+0.039%	$36.1M	$25.7M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4310	+0.060%	$776K	$2.6M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4309	+0.049%	$62.0M	$235.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4306	−0.023%	$67.0M	$125.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4309	+0.046%	$17.2M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	+0.167%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4307	+0.008%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4307	0.000%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4308	+0.023%	$42.6M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4306	−0.023%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4307	0.000%	$24.6M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4307	0.000%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4304	−0.065%	$176K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	−0.004%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.328%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4306	−0.021%	$399K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	+0.070%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4299	−0.174%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4306	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4304	−0.070%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4310	+0.070%	$127K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4303	−0.093%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4308	+0.018%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4307	−0.009%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4306	−0.023%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0215%	1h	0.4307	long leg	$18K	$362K	25x
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.906%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4323	+0.378%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4304	−0.070%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4303	−0.101%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4301	−0.150%	$2K	—	20x	as long as short