ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0480%/8h= −52.6% APRnext payment −$0.60 per $10,000 · paid last 24h −0.150%

Price spread now: Deribit against Lighter−0.074%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.074%, 7d avg −0.087%

Together, before fees−0.141%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.087%, so right now this pair is about funding alone: −$14 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 -0.214% in total (about -11.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 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	Lighter ONDO	0.4617	0.0664	pay 0.0083% / 1h	12m 52s	$1.5M	$2.3M	10x
Short	Deribit ONDO_USDC-PERPETUAL	0.4614	0.0184	get 0.0023% / 1h	12m 52s	$34K	$342K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$100.8
Price spread: −0.074% → −0.087%: $1.32
Slippage, 4 orders: −$36.85
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$143.33
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, 61 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, 4 min ago	6.49 bp	11.5 bp −$12	26.0 bp −$260	doesn't fit	doesn't fit
Sell Deribit live order book, 61 min ago	6.57 bp	14.5 bp −$14	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_ONDOUSD	−0.0866%	1h	0.4613	−0.089%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4614	−0.072%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4611	−0.137%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.070%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4613	−0.095%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4617	−0.009%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4614	−0.074%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4610	−0.166%	$69.0M	$221.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4608	−0.204%	$74.2M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4608	−0.204%	$17.6M	$78.0M	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	0.4593	−0.520%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4613	−0.089%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4608	−0.204%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4609	−0.182%	$49.8M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4608	−0.204%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4608	−0.204%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4609	−0.182%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.208%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4615	−0.044%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	−0.109%	$426K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4616	−0.030%	$172K	$336K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4620	+0.065%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4614	−0.074%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4614	−0.074%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4621	+0.078%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4613	−0.095%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4619	+0.034%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4609	−0.182%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4616	−0.027%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0120%	1h	0.4613	−0.102%	$232K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0184%	1h	0.4614	−0.074%	$34K	$342K	25x
Phoenix ONDO	+0.0244%	1h	0.4588	−0.632%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4618	+0.004%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4632	+0.316%	$300K	$821K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4618	+0.013%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0365%	1h	0.4614	−0.071%	$41.0M	$25.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4611	−0.130%	$551K	—	100x	as long as short
Lighter ONDOlong	+0.0664%	1h	0.4617	long leg	$1.5M	$2.3M	10x
Reya ONDORUSDPERP	+0.1146%	1h	0.4613	−0.090%	$2K	—	20x	as long as short