ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0279%/8h= −30.5% APRnext payment −$0.35 per $10,000 · paid last 24h −0.076%

Price spread now: Deribit against Hyperliquid−0.049%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$31 on $10k

Price spread, last 3 days (all we have)−0.220%−$22 · spread now −0.049%, 7d avg −0.084%

Together, before fees−0.534%+ Points / potential airdropHyperliquid: Season 2 · farm board−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.035% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.049% now, against its 7-day average of −0.084%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4505	0.0279	pay 0.0035% / 1h	13m 08s	$40.2M	$27.9M	10x
Short	Deribit ONDO_USDC-PERPETUAL	0.4503	0	get 0.0000% / 1h	13m 08s	$19K	$364K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$58.58
Price spread: −0.049% → −0.084%: $3.53
Slippage, 4 orders: −$19.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$90.99
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Deribit: live order book, 11 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, 10 min ago	0.44 bp	5.0 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 11 min ago	5.53 bp	13.4 bp −$13	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	−0.1130%	1h	0.4499	−0.128%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUALshort	0.0000%	1h	0.4503	−0.049%	$19K	$364K	25x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4502	−0.077%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4528	+0.515%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.373%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4501	−0.093%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4503	−0.049%	$421K	$680K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4503	−0.046%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4501	−0.093%	$66.4M	$220.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4499	−0.138%	$73.0M	$118.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4501	−0.093%	$17.7M	$79.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4528	+0.504%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4507	+0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4500	−0.115%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4501	−0.093%	$47.1M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4501	−0.093%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4501	−0.093%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4500	−0.115%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4501	−0.091%	$192K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4521	+0.357%	$794K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	+0.282%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4528	+0.507%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4520	+0.329%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4504	−0.033%	$99K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4506	+0.018%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4502	−0.071%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4513	+0.173%	$129K	$520K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4503	−0.049%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.012%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4501	−0.097%	$401K	$979K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4503	−0.049%	$35K	—	3x	as long as short
Hyperliquid ONDOlong	+0.0279%	1h	0.4505	long leg	$40.2M	$27.9M	10x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.750%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4505	−0.004%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4510	+0.109%	$371	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4510	+0.111%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0191%	1h	0.4501	−0.087%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4503	−0.043%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9242%	1h	0.4511	+0.127%	$255K	$129K	5x	as long as short