ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0141%/8h= +15.4% APRnext payment +$0.18 per $10,000 · paid last 24h −0.081%

Price spread now: Backpack against Kraken Futures−0.008%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now −0.008%, 7d avg −0.050%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.041% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −0.262%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4406	0.0061	pay 0.0008% / 1h	41m 44s	$2.6M	$8.1M	50x
Short	Backpack ONDO_USDC_PERP	0.4406	0.0202	get 0.0025% / 1h	41m 44s	$190K	$980K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.008%Rate

Funding earned: $29.52
Price spread: −0.008% → −0.050%: $4.15
Slippage, 4 orders: −$33.63
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$19.96
Costs to cover: 0.536%
Break-even: 11.7 days

Slippage from Kraken Futures: live order book, 2 min ago; Backpack: live order book, 27 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 Kraken Futures live order book, 2 min ago	4.54 bp	13.7 bp −$14	20.0 bp −$200	doesn't fit	doesn't fit
Sell Backpack live order book, 27 min ago	1.94 bp	10.2 bp −$10	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
dYdX ONDO-USD	0.0000%	1h	0.4392	−0.319%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	−0.029%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.666%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0061%	1h	0.4406	long leg	$2.6M	$8.1M	50x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4406	−0.010%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	+0.052%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4393	−0.298%	$63.8M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4393	−0.305%	$69.3M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4395	−0.260%	$16.9M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4395	−0.255%	$72K	$86K	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	0.4411	+0.097%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	−0.260%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4395	−0.260%	$47.0M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4403	−0.078%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4393	−0.305%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4395	−0.260%	—	$758K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4381	−0.584%	$709K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	−0.383%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	−0.554%	$411K	$987K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4395	−0.260%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4410	+0.085%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4410	+0.080%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	+0.058%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4419	+0.285%	$130K	$476K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4405	−0.033%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4411	+0.106%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4396	−0.246%	$398K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4409	+0.060%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0120%	1h	0.4395	−0.262%	$38.2M	$24.4M	10x	as long as short
Aster ONDOUSDT	+0.0127%	4h	0.4398	−0.183%	$711K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERPshort	+0.0202%	1h	0.4406	−0.008%	$190K	$980K	15x
Phoenix ONDO	+0.0272%	1h	0.4399	−0.176%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	−0.010%	$3.2M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4405	−0.033%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4415	+0.192%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4408	+0.035%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	−0.041%	$486K	—	100x	as long as short
Lighter ONDO	+0.0880%	1h	0.4403	−0.085%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4409	+0.062%	$2K	—	20x	as long as short