ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.002%

Price spread now: SoDEX against Backpack−0.354%50s7-day average — · you buy dearer than you sell

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

Long on Backpack Short on SoDEX

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—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SoDEX is 0.354% cheaper against Backpack than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	Backpack ONDO_USDC_PERP	0.4574	0.0143	pay 0.0018% / 1h	8m 18s	$231K	$1.0M	15x
Short	SoDEX ONDO-USD	0.4558	0.0100	get 0.0013% / 1h	8m 18s	$474	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.354%Rate

Funding earned: −$8.93
Price spread: −0.354% → 0.000%: −$35.42
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$62.35
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 1 min ago; SoDEX: no order-book sample. 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 Backpack live order book, 1 min ago	1.09 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Kraken Futures PF_ONDOUSD	−0.0353%	1h	0.4557	−0.378%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4557	−0.373%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4557	−0.376%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.332%	$431K	$705K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4563	−0.245%	$728K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4560	−0.317%	$67.7M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4557	−0.376%	$73.8M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4558	−0.354%	$17.7M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.518%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4561	−0.296%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4556	−0.398%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4558	−0.354%	$49.2M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4561	−0.289%	$13.7M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4558	−0.354%	$25.8M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4557	−0.376%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4560	−0.313%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	−0.255%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4568	−0.130%	$421K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	−0.201%	$163K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4562	−0.273%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4559	−0.332%	—	$1.4M	20x	as long as short
SoDEX ONDO-USDshort	+0.0100%	1h	0.4558	−0.354%	$474	$14K	10x
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.061%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4557	−0.376%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	−0.185%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4558	−0.364%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4561	−0.283%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.254%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERPlong	+0.0143%	1h	0.4574	long leg	$231K	$1.0M	15x
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.136%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4558	−0.354%	$31K	$431K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.455%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4575	+0.017%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0376%	1h	0.4562	−0.266%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4565	−0.212%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0187%	1h	0.4557	−0.374%	$543K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4565	−0.197%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4558	−0.358%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5445%	1h	0.4570	−0.098%	$259K	$129K	5x	as long as short