ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1222%/8h= +133.8% APRnext payment +$1.53 per $10,000 · paid last 24h −0.199%

Price spread now: Polymarket Perps against Kraken Futures+0.186%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on Kraken Futures Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.186%, 7d avg −0.014%

Together, before fees−0.362%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Polymarket Perps is 0.200% dearer against Kraken Futures than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.312%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.312% in total (about -16.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.53 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	0.4531	−0.1122	get 0.0140% / 1h	21m 21s	$2.9M	$7.8M	50x
Short	Polymarket Perps ONDO-USD	0.4540	0.0100	get 0.0013% / 1h	21m 21s	$104K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.186%Rate

Funding earned: $256.69
Price spread: +0.186% → −0.014%: $19.97
Slippage, 4 orders: −$34.27
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $224.38
Costs to cover: 0.523%
Break-even: 0.9 days

Slippage from Kraken Futures: live order book, 3 min ago; Polymarket Perps: live order book, 2 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, 3 min ago	2.21 bp	9.1 bp −$9	19.0 bp −$190	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.88 bp	8.5 bp −$8	10.1 bp −$101	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	−0.1122%	1h	0.4531	long leg	$2.9M	$7.8M	50x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4536	+0.100%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4536	+0.095%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4539	+0.175%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.209%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4533	+0.034%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4536	+0.111%	$427K	$678K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4538	+0.144%	$767K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4537	+0.122%	$67.0M	$220.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4535	+0.078%	$73.6M	$118.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4533	+0.034%	$17.8M	$80.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4524	−0.158%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4539	+0.172%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4535	+0.078%	$11.8M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4536	+0.100%	$47.8M	$45.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4538	+0.144%	$13.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4536	+0.100%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4536	+0.100%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4538	+0.142%	$194K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4536	+0.107%	$785K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4520	−0.257%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4521	−0.230%	$427K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4523	−0.187%	$159K	$331K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4540	+0.186%	$104K	$1.1M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4540	+0.188%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4536	+0.100%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4544	+0.276%	$128K	$515K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4536	+0.100%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4538	+0.140%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4534	+0.055%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4537	+0.133%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0253%	1h	0.4541	+0.206%	$40.6M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.166%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4521	−0.231%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4543	+0.250%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4546	+0.321%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4535	+0.088%	$564K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4535	+0.083%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9750%	1h	0.4535	+0.074%	$257K	$128K	5x	as long as short