ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0228%/8h= +25.0% APRnext payment +$0.29 per $10,000 · paid last 24h +0.056%

Price spread now: Coinbase International against Hyperliquid+0.072%7-day average +0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.472%+$47 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.072%, 7d avg +0.128%

Together, before fees+0.332%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.056% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.128%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4527	0.0100	pay 0.0013% / 1h	40m 29s	$40.7M	$27.4M	10x
Short	Coinbase International ONDO-PERP-INTX	0.4530	0.0328	get 0.0041% / 1h	40m 29s	$304K	$842K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Hyperliquid. 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 HyperliquidbpFee Coinbase InternationalbpOrdersPrice spread, now +0.072%Rate

Funding earned: $47.88
Price spread: +0.072% → +0.128%: −$5.61
Slippage, 4 orders: −$46.79
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$23.52
Costs to cover: 0.658%
Break-even: 10.4 days

Slippage from Hyperliquid: live order book, 3 min ago; Coinbase International: live order book, 47 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 Hyperliquid live order book, 3 min ago	0.33 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 47 min ago	14.46 bp	23.0 bp −$23	72.2 bp −$722	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	−0.1124%	1h	0.4524	−0.062%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4525	−0.038%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4521	−0.136%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4503	−0.529%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.446%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4520	−0.149%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4521	−0.116%	$431K	$672K	10x	as long as short
Hyperliquid ONDOlong	+0.0100%	1h	0.4527	long leg	$40.7M	$27.4M	10x
Aster ONDOUSDT	+0.0100%	4h	0.4524	−0.060%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4520	−0.149%	$66.5M	$219.9M	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	0.4520	−0.149%	$73.4M	$117.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4519	−0.171%	$17.7M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4510	−0.376%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4520	−0.139%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4520	−0.149%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4521	−0.127%	$47.7M	$45.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4522	−0.104%	$13.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4524	−0.060%	$25.5M	$41.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4522	−0.104%	—	$746K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4524	−0.058%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.159%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4507	−0.436%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4521	−0.116%	$425K	$929K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4507	−0.436%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4523	−0.076%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4522	−0.104%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4523	−0.082%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4527	+0.006%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4523	−0.082%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4521	−0.120%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4522	−0.112%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4524	−0.060%	$36K	—	3x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0328%	1h	0.4530	+0.072%	$304K	$842K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4524	−0.060%	$3.3M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0440%	1h	0.4524	−0.056%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0448%	1h	0.4531	+0.097%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4520	−0.146%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4523	−0.080%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0488%	1h	0.4520	−0.152%	$256K	$117K	5x	as long as short