ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0874%/8h= −95.7% APRnext payment −$1.09 per $10,000 · paid last 24h +0.131%

Price spread now: Kraken Futures against Deribit−0.023%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$550.555% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$31 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.023%, 7d avg +0.051%

Together, before fees+0.357%+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Kraken Futures is 0.074% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.051%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.305%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.305% in total (about 16.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.09 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ONDO_USDC-PERPETUAL	0.4571	0	get 0.0000% / 1h	38m 22s	$33K	$363K	25x
Short	Kraken Futures PF_ONDOUSD	0.4570	−0.0874	pay 0.0109% / 1h	38m 22s	$2.8M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$183.53
Price spread: −0.023% → +0.051%: −$7.37
Slippage, 4 orders: −$38.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$246.38
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; Kraken Futures: live order book, 6 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, 35 min ago	6.57 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	3.27 bp	22.7 bp −$23	39.2 bp −$392	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_ONDOUSDshort	−0.0874%	1h	0.4570	−0.023%	$2.8M	$8.0M	50x
Gate ONDO_USDT	−0.0026%	4h	0.4575	+0.088%	$12.0M	$16.6M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4571	+0.006%	$259K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUALlong	0.0000%	1h	0.4571	long leg	$33K	$363K	25x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4575	+0.090%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.066%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4578	+0.153%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4577	+0.131%	$435K	$709K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4579	+0.172%	$723K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4575	+0.095%	$68.4M	$225.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4578	+0.153%	$74.2M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4578	+0.153%	$17.5M	$79.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4595	+0.518%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4576	+0.118%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4575	+0.088%	$49.6M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4577	+0.131%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4579	+0.175%	$25.9M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4576	+0.109%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4574	+0.070%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4583	+0.258%	$819K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4583	+0.257%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4596	+0.554%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4581	+0.219%	$173K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4579	+0.173%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4580	+0.197%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4571	0.000%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4581	+0.219%	$134K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	+0.022%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4570	−0.018%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4578	+0.143%	$409K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4581	+0.208%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0149%	1h	0.4581	+0.228%	$40.7M	$25.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4577	+0.142%	$377	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4585	+0.302%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4591	+0.438%	$299K	$823K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	+0.044%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0544%	1h	0.4580	+0.199%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4574	+0.068%	$546K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4575	+0.082%	$2K	—	20x	as long as short