ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0645%/8h= +70.6% APRnext payment +$0.81 per $10,000 · paid last 24h +0.685%

Price spread now: Backpack against Injective−0.409%7-day average +0.984% · you buy dearer than you sell

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

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+3.412%+$341 on $10k

Price spread, last 3 days (all we have)+1.099%+$110 · spread now −0.409%, 7d avg +0.984%

Together, before fees+4.511%+$451 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 1.394% cheaper against Injective than usual: you would sell low and buy high (spread −0.409% now, against its 7-day average of +0.984%). If the spread goes back, that is −$139 on $10k: about 7.2 days of funding at the current rate (+$19 a day). At the pace of the last 7 days (+3.412% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4568	−0.0545	get 0.0068% / 1h	35m 09s	$888	$216K	5.5x
Short	Backpack ONDO_USDC_PERP	0.4549	0.0100	get 0.0013% / 1h	35m 09s	$229K	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now −0.409%Rate

Funding earned: $135.39
Price spread: −0.409% → +0.984%: −$139.38
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.01
Costs to cover: 0.100%
Break-even: 7.7 days

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 4 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 4 min ago	1.21 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit

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	−0.0802%	1h	0.4547	−0.462%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERPlong	−0.0545%	1h	0.4568	long leg	$888	$216K	5.5x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4547	−0.460%	$36K	$436K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4547	−0.453%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4546	−0.482%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4548	−0.427%	$437K	$711K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4550	−0.383%	$721K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4548	−0.446%	$68.1M	$228.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4548	−0.438%	$73.7M	$123.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4547	−0.460%	$17.7M	$81.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.523%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4550	−0.384%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4545	−0.504%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4547	−0.460%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4548	−0.438%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4548	−0.438%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4548	−0.438%	—	$741K	—	as long as short
Backpack ONDO_USDC_PERPshort	+0.0100%	1h	0.4549	−0.409%	$229K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4545	−0.504%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	−0.374%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	−0.372%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	−0.328%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4553	−0.337%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4551	−0.372%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4547	−0.460%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4559	−0.197%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4548	−0.438%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4548	−0.435%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4546	−0.475%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4550	−0.394%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4555	−0.293%	$38K	$257K	10x	as long as short
Hyperliquid ONDO	+0.0253%	1h	0.4551	−0.366%	$40.3M	$26.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4548	−0.438%	$297K	$850K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4547	−0.460%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4554	−0.311%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4547	−0.458%	$543K	—	100x	as long as short
Lighter ONDO	+0.0824%	1h	0.4555	−0.276%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4549	−0.407%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4497%	1h	0.4546	−0.477%	$257K	$132K	5x	as long as short