ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0272%/8h= −29.8% APRnext payment −$0.34 per $10,000 · paid last 24h −0.099%

Price spread now: Kraken Futures against Lighter−0.038%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.306%−$31 · spread now −0.038%, 7d avg −0.051%

Together, before fees−0.252%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 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	0.4342	0.0096	pay 0.0012% / 1h	45m 32s	$1.1M	$2.3M	10x
Short	Kraken Futures PF_ONDOUSD	0.4340	−0.0176	pay 0.0022% / 1h	45m 32s	$2.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$57.12
Price spread: −0.038% → −0.051%: $1.26
Slippage, 4 orders: −$37.67
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$103.53
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 3 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, 6 min ago	2.76 bp	2.8 bp −$3	25.0 bp −$250	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.46 bp	21.4 bp −$21	29.9 bp −$299	379.2 bp −$37.9K	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_ONDOUSDshort	−0.0176%	1h	0.4340	−0.038%	$2.5M	$7.8M	50x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4341	−0.014%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.038%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.215%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4342	long leg	$1.1M	$2.3M	10x
Aster ONDOUSDT	+0.0100%	4h	0.4342	+0.009%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4341	−0.023%	$63.4M	$233.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4341	−0.014%	$68.5M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	+0.009%	$17.4M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4337	−0.111%	$71K	$81K	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	0.4340	−0.034%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4339	−0.060%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4341	−0.014%	$44.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4341	−0.014%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4342	+0.009%	$24.9M	$36.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4339	−0.060%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	−0.007%	$181K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4339	−0.065%	$682K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4339	−0.071%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4336	−0.129%	$401K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4344	+0.055%	$134K	$340K	50x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4341	−0.002%	$347K	$886K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	−0.025%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4340	−0.037%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4340	−0.037%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4341	−0.014%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4351	+0.217%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4341	−0.014%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4339	−0.066%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4338	−0.085%	$366K	$830K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4342	+0.009%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4346	+0.101%	$215K	$734K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4344	+0.062%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4343	+0.025%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4344	+0.055%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4339	−0.061%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0647%	1h	0.4347	+0.115%	$36.8M	$27.4M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4341	−0.014%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1841%	1h	0.4340	−0.048%	$244K	$155K	5x	as long as short