ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.148%

Price spread now: Lighter against Polymarket Perps+0.005%45s7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.313% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 7 days−0.268%−$27 · spread now +0.005%, 7d avg +0.037%

Together, before fees−0.047%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.032% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.037%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ONDO-USD	0.4344	0.0100	pay 0.0013% / 1h	18m 41s	$65K	$1.4M	10x
Short	Lighter ONDO	0.4344	0.0096	get 0.0012% / 1h	18m 41s	$1.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$0.84
Price spread: +0.005% → +0.037%: −$3.21
Slippage, 4 orders: −$23.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$35.36
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Lighter: 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 Polymarket Perps live order book, 5 min ago	2.09 bp	6.1 bp −$6	6.2 bp −$62	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	6.35 bp	12.2 bp −$12	29.5 bp −$295	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	−0.0240%	1h	0.4340	−0.085%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4341	−0.070%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0012%	1h	0.4341	−0.071%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.161%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4344	+0.005%	$1.1M	$2.4M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4341	−0.059%	$349K	$882K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4343	−0.009%	$36.3M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4343	−0.018%	$776K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4342	−0.030%	$62.9M	$237.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4340	−0.087%	$67.8M	$126.1M	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	0.4343	−0.018%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	−0.200%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4339	−0.109%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4340	−0.087%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4340	−0.087%	$43.3M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4340	−0.087%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4340	−0.087%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4340	−0.087%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	−0.053%	$178K	$987K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.554%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4325	−0.439%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4313	−0.711%	$398K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4306	−0.870%	$132K	$356K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4344	long leg	$65K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4342	−0.041%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4344	+0.005%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4343	−0.018%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.005%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4341	−0.064%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4341	−0.064%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4339	−0.101%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4345	+0.032%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0120%	1h	0.4342	−0.032%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4341	−0.064%	$218K	$760K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4311	−0.764%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	−0.064%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0441%	1h	0.4342	−0.041%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4341	−0.071%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4343	−0.007%	$2K	—	20x	as long as short