ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.051%

Price spread now: Deribit against Hyperliquid−0.053%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now −0.053%, 7d avg −0.081%

Together, before fees−0.437%+ Points / potential airdropHyperliquid: Season 2 · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.028% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.053% now, against its 7-day average of −0.081%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4338	0.0100	pay 0.0013% / 1h	53m 44s	$36.4M	$25.7M	10x
Short	Deribit ONDO_USDC-PERPETUAL	0.4336	0	get 0.0000% / 1h	53m 44s	$18K	$362K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$21
Price spread: −0.053% → −0.081%: $2.83
Slippage, 4 orders: −$25.65
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$59.83
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Deribit: live order book, 60 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 Hyperliquid live order book, 9 min ago	0.81 bp	9.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 60 min ago	6.80 bp	10.3 bp −$10	doesn't fit	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	−0.0241%	1h	0.4333	−0.129%	$2.6M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4335	−0.066%	$248K	$133K	5x	as long as short
Deribit ONDO_USDC-PERPETUALshort	0.0000%	1h	0.4336	−0.053%	$18K	$362K	25x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4334	−0.102%	$7K	—	150x	as long as short
01 Exchange ONDOUSD	+0.0024%	1h	0.4333	−0.124%	$357	$2K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.295%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4338	−0.018%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4334	−0.099%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4336	−0.053%	$351K	$875K	10x	as long as short
Hyperliquid ONDOlong	+0.0100%	1h	0.4338	long leg	$36.4M	$25.7M	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4337	−0.033%	$62.4M	$234.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4336	−0.053%	$67.5M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4337	−0.030%	$17.1M	$72.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4346	+0.189%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4333	−0.121%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4335	−0.076%	$12.0M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4335	−0.076%	$42.7M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4335	−0.076%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4337	−0.030%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4336	−0.053%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4334	−0.095%	$175K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4341	+0.056%	$683K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4336	−0.061%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4340	+0.039%	$407K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4339	+0.016%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	−0.076%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	−0.099%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4336	−0.053%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.131%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	−0.053%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4336	−0.060%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4336	−0.051%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4337	−0.030%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0112%	4h	0.4338	−0.010%	$777K	$2.6M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4338	−0.007%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4342	+0.076%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4339	+0.016%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4333	−0.119%	$482K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4334	−0.099%	$2K	—	20x	as long as short