ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.416%

Price spread now: Injective against Hyperliquid+5.633%73s7-day average −0.845% · you sell dearer than you buy

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

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.726%−$373 on $10k

Price spread, last 4 days (all we have)−6.526%−$653 · spread now +5.633%, 7d avg −0.845%

Together, before fees−10.252%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1,025 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 6.478% dearer against Hyperliquid than usual: you sell high and buy low (spread +5.633% now, against its 7-day average of −0.845%): +$648 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 11 months. At the pace of the last 7 days (−3.726% in total) that is about 12 days. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4324	0.0100	pay 0.0013% / 1h	44m 05s	$36.3M	$25.9M	10x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	44m 05s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Hyperliquid. 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 HyperliquidbpFee InjectivebpOrdersPrice spread, now +5.633%Rate

Funding earned: −$14
Price spread: +5.633% → −0.845%: $647.78
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $624.76
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	0.58 bp	5.3 bp −$5	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	−0.0241%	1h	0.4323	−0.037%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4325	+0.014%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4324	−0.011%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0033%	1h	0.4325	+0.016%	$248K	$133K	5x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+5.633%	$888	$216K	5.5x
01 Exchange ONDOUSD	+0.0048%	1h	0.4324	−0.005%	$356	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4328	+0.079%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4323	−0.032%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4323	−0.032%	$350K	$874K	10x	as long as short
Hyperliquid ONDOlong	+0.0100%	1h	0.4324	long leg	$36.3M	$25.9M	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4327	+0.054%	$775K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	−0.012%	$62.3M	$234.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	−0.079%	$67.3M	$125.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4324	−0.009%	$17.2M	$72.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	+0.180%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4323	−0.036%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4323	−0.032%	$12.1M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4324	−0.009%	$43.0M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4323	−0.032%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4324	−0.009%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4325	+0.014%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4324	−0.002%	$176K	$984K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	+0.100%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4335	+0.241%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4334	+0.225%	$399K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4333	+0.199%	$134K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4325	+0.014%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4325	+0.014%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4325	+0.014%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4333	+0.199%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4324	−0.009%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4325	+0.025%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4324	−0.019%	$389K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4326	+0.041%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.499%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4342	+0.414%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4327	+0.060%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4323	−0.022%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4324	+0.002%	$2K	—	20x	as long as short