ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0687%/8h= +75.2% APRnext payment +$0.86 per $10,000 · paid last 24h +0.746%

Price spread now: Phoenix against Injective+0.506%7-day average +1.034% · you sell dearer than you buy

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

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+3.311%+$331 on $10k

Price spread, last 3 days (all we have)+0.218%+$22 · spread now +0.506%, 7d avg +1.034%

Together, before fees+3.529%+$353 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.529% cheaper against Injective than usual: you would sell low and buy high (spread +0.506% now, against its 7-day average of +1.034%). If the spread goes back, that is −$53 on $10k: about 2.6 days of funding at the current rate (+$21 a day). At the pace of the last 7 days (+3.311% in total) that is about 27 hours.

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	57m 42s	$888	$216K	5.5x
Short	Phoenix ONDO	0.4591	0.0142	get 0.0018% / 1h	57m 42s	$38K	$217K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.506%Rate

Funding earned: $144.2
Price spread: +0.506% → +1.034%: −$52.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $84.33
Costs to cover: 0.070%
Break-even: 2.9 days

Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 15 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 Phoenix live order book, 15 min ago	1.09 bp	12.6 bp −$13	43.6 bp −$436	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	−0.0795%	1h	0.4586	+0.391%	$2.8M	$7.9M	50x	as long as short
Injective ONDO/USDC PERPlong	−0.0545%	1h	0.4568	long leg	$888	$216K	5.5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4587	+0.421%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4588	+0.438%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4591	+0.498%	$432K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4590	+0.481%	$726K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4589	+0.467%	$68.4M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4587	+0.416%	$74.4M	$122.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4588	+0.438%	$17.9M	$81.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4585	+0.377%	$75K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4588	+0.434%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4586	+0.394%	$12.1M	$17.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4588	+0.438%	$49.6M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4587	+0.416%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4588	+0.438%	$26.0M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4588	+0.438%	—	$742K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+0.173%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4584	+0.358%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4588	+0.438%	$423K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4589	+0.460%	$164K	$307K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4593	+0.543%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4590	+0.482%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4588	+0.438%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4596	+0.613%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4588	+0.438%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4587	+0.425%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4588	+0.429%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4572	+0.086%	$44K	$8K	3x	as long as short
Phoenix ONDOshort	+0.0142%	1h	0.4591	+0.506%	$38K	$217K	10x
Deribit ONDO_USDC-PERPETUAL	+0.0186%	1h	0.4589	+0.460%	$36K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0205%	1h	0.4590	+0.488%	$40.7M	$26.9M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0283%	1h	0.4589	+0.466%	$231K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4588	+0.438%	$301K	$861K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4590	+0.482%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0448%	1h	0.4596	+0.602%	$378	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4587	+0.410%	$548K	—	100x	as long as short
Lighter ONDO	+0.0888%	1h	0.4597	+0.646%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4591	+0.499%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6434%	1h	0.4585	+0.374%	$259K	$129K	5x	as long as short