ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1266%/8h= +138.7% APRnext payment +$1.58 per $10,000 · paid last 24h −0.104%

Price spread now: Hyperliquid against Kraken Futures+0.040%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 3 days (all we have)+0.216%+$22 · spread now +0.040%, 7d avg +0.030%

Together, before fees+0.199%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: +$38 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4536	−0.1121	get 0.0140% / 1h	36m 42s	$3.0M	$7.7M	50x
Short	Hyperliquid ONDO	0.4538	0.0145	get 0.0018% / 1h	36m 42s	$40.8M	$27.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.040%Rate

Funding earned: $265.94
Price spread: +0.040% → +0.030%: $1.01
Slippage, 4 orders: −$41.69
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $206.26
Costs to cover: 0.607%
Break-even: 1.6 days

Slippage from Kraken Futures: live order book, 2 min ago; Hyperliquid: live order book, 7 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	11.05 bp	18.3 bp −$18	31.6 bp −$316	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.33 bp	9.1 bp −$9	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_ONDOUSDlong	−0.1121%	1h	0.4536	long leg	$3.0M	$7.7M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4535	−0.036%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.339%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.313%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4536	−0.004%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4534	−0.043%	$426K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4533	−0.062%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4526	−0.226%	$66.6M	$219.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4525	−0.247%	$73.5M	$117.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4521	−0.335%	$17.7M	$79.8M	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	0.4513	−0.507%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4533	−0.073%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4532	−0.092%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4533	−0.070%	$47.8M	$45.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4535	−0.026%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4530	−0.136%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4532	−0.092%	—	$22.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4537	+0.022%	$196K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.367%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	−0.401%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4523	−0.292%	$417K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4521	−0.335%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.009%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	−0.004%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4535	−0.026%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4544	+0.172%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4534	−0.048%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4532	−0.097%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4533	−0.075%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4537	+0.025%	$36K	—	3x	as long as short
Hyperliquid ONDOshort	+0.0145%	1h	0.4538	+0.040%	$40.8M	$27.5M	10x
Deribit ONDO_USDC-PERPETUAL	+0.0191%	1h	0.4538	+0.040%	$29K	$354K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	−0.048%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4530	−0.136%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4539	+0.069%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0512%	1h	0.4533	−0.077%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0619% / S −0.0203%	1h	0.4535	−0.036%	$564K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4536	−0.007%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9907%	1h	0.4528	−0.178%	$256K	$123K	5x	as long as short