ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h −0.001%

Price spread now: Coinbase International against Lighter+0.161%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.593%+$59 on $10k

Price spread, last 3 days (all we have)−0.114%−$11 · spread now +0.161%, 7d avg +0.127%

Together, before fees+0.480%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.035% dearer against Lighter than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of +0.127%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.593%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4527	0.0536	pay 0.0067% / 1h	29m 55s	$1.4M	$2.2M	10x
Short	Coinbase International ONDO-PERP-INTX	0.4534	0.0328	get 0.0041% / 1h	29m 55s	$305K	$841K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.161%Rate

Funding earned: −$43.68
Price spread: +0.161% → +0.127%: $3.46
Slippage, 4 orders: −$57.14
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$107.36
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Coinbase International: live order book, 58 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 Lighter live order book, 2 min ago	1.87 bp	16.3 bp −$16	30.1 bp −$301	doesn't fit	doesn't fit
Sell Coinbase International live order book, 58 min ago	14.46 bp	23.0 bp −$23	72.2 bp −$722	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_ONDOUSD	−0.1126%	1h	0.4518	−0.195%	$3.0M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4517	−0.214%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4518	−0.202%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4531	+0.091%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.104%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4517	−0.214%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4521	−0.126%	$425K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4521	−0.125%	$759K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4520	−0.150%	$66.5M	$220.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4520	−0.148%	$73.4M	$117.9M	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	0.4520	−0.148%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4536	+0.197%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4521	−0.132%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4518	−0.192%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4520	−0.148%	$47.4M	$45.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4518	−0.192%	$13.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4520	−0.148%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4518	−0.192%	—	$22.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−0.152%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4528	+0.035%	$783K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4531	+0.099%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4535	+0.176%	$418K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4533	+0.139%	$160K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4522	−0.106%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4521	−0.126%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4517	−0.214%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4531	+0.095%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4518	−0.192%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4520	−0.153%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4518	−0.188%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4520	−0.156%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0216%	1h	0.4524	−0.053%	$40.7M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0328%	1h	0.4534	+0.161%	$305K	$841K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4526	−0.015%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4525	−0.033%	$372	$2K	10x	as long as short
Lighter ONDOlong	+0.0536%	1h	0.4527	long leg	$1.4M	$2.2M	10x
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4517	−0.222%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4521	−0.125%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9579%	1h	0.4521	−0.124%	$256K	$123K	5x	as long as short