ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0877%/8h= −96.1% APRnext payment −$1.10 per $10,000 · paid last 24h −0.299%

Price spread now: Phoenix against Reya−0.302%59s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Phoenix is 0.302% cheaper against Reya than usual: you would sell low and buy high (−$30 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 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	Reya ONDORUSDPERP	0.4411	0.1149	pay 0.0144% / 1h	34m 33s	$2K	—	20x
Short	Phoenix ONDO	0.4398	0.0272	get 0.0034% / 1h	34m 33s	$35K	$225K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Reya. 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 ReyabpFee PhoenixbpOrdersPrice spread, now −0.302%Rate

Funding earned: −$184.23
Price spread: −0.302% → 0.000%: −$30.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$227.44
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phoenix: live order book, 22 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 22 min ago	0.90 bp	12.5 bp −$12	43.3 bp −$433	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX ONDO-USD	0.0000%	1h	0.4403	−0.177%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4408	−0.072%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.561%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4413	+0.045%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4412	+0.024%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4410	−0.015%	$373K	$838K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	0.000%	$64.1M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4409	−0.044%	$69.6M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	−0.021%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4396	−0.347%	$72K	$86K	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	0.4408	−0.072%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4404	−0.157%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	−0.021%	$46.9M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4409	−0.044%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4410	−0.021%	$25.2M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4410	−0.021%	—	$21.9M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.052%	$713K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4397	−0.321%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	−0.202%	$406K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4397	−0.316%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4411	+0.006%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4413	+0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4416	+0.115%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4420	+0.206%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4414	+0.070%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4407	−0.088%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4417	+0.148%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0105%	8h	0.4408	−0.063%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0148%	4h	0.4409	−0.041%	$711K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0179%	1h	0.4415	+0.081%	$38.3M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0194%	1h	0.4416	+0.111%	$190K	$979K	15x	as long as short
Phoenix ONDOshort	+0.0272%	1h	0.4398	−0.302%	$35K	$225K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4415	+0.092%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.089%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4415	+0.088%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4415	+0.092%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4408	−0.065%	$486K	—	100x	as long as short
Lighter ONDO	+0.0864%	1h	0.4413	+0.045%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1149%	1h	0.4411	long leg	$2K	—	20x