ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.121%

Price spread now: Lighter against Backpack−0.018%7-day average +0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 7 days−0.117%−$12 · spread now −0.018%, 7d avg +0.084%

Together, before fees+0.087%+ Points / potential airdropLighter: Season 3 · farm board+$9 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 0.102% cheaper against Backpack than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4341	0.0100	pay 0.0013% / 1h	38m 03s	$179K	$1.0M	15x
Short	Lighter ONDO	0.4340	0.0096	get 0.0012% / 1h	38m 03s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Backpack. 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 BackpackbpFee LighterbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$0.84
Price spread: −0.018% → +0.084%: −$10.22
Slippage, 4 orders: −$28.4
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$49.46
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Lighter: live order book, 4 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 Backpack live order book, 1 min ago	0.23 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	3.46 bp	10.4 bp −$10	25.2 bp −$252	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	−0.0176%	1h	0.4336	−0.125%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4337	−0.104%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.227%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4340	−0.018%	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4338	−0.071%	$345K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4342	+0.024%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4341	−0.002%	$63.4M	$233.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4338	−0.071%	$68.4M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4341	−0.002%	$17.3M	$71.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4337	−0.090%	$71K	$79K	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	0.4336	−0.127%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4335	−0.141%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4337	−0.094%	$44.6M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.141%	$12.2M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	−0.002%	$24.9M	$36.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4339	−0.048%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4341	long leg	$179K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4327	−0.330%	$680K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4329	−0.273%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	−0.258%	$399K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4329	−0.279%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	−0.210%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4334	−0.164%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4336	−0.117%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4337	−0.094%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4342	+0.021%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4335	−0.141%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4332	−0.216%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4340	−0.028%	$363K	$832K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4338	−0.062%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0211%	1h	0.4338	−0.071%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	−0.025%	$214K	$720K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4338	−0.067%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4338	−0.076%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4328	−0.302%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4336	−0.125%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0619%	1h	0.4342	+0.021%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4338	−0.077%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2741%	1h	0.4333	−0.187%	$243K	$155K	5x	as long as short