ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0081%/8h= +8.9% APRnext payment +$0.10 per $10,000 · paid last 24h +0.639%

Price spread now: Backpack against Injective+0.591%7-day average +0.974% · you sell dearer than you buy

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

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+3.420%+$342 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now +0.591%, 7d avg +0.974%

Together, before fees+3.541%+$354 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.383% cheaper against Injective than usual: you would sell low and buy high (spread +0.591% now, against its 7-day average of +0.974%). If the spread goes back, that is −$38 on $10k: about 16 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+3.420% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4568	0.0033	pay 0.0004% / 1h	6m 32s	$888	$216K	5.5x
Short	Backpack ONDO_USDC_PERP	0.4595	0.0114	get 0.0014% / 1h	6m 32s	$231K	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BackpackbpOrdersPrice spread, now +0.591%Rate

Funding earned: $17.03
Price spread: +0.591% → +0.974%: −$38.34
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$31.34
Costs to cover: 0.100%
Break-even: 19.9 days

Slippage unknown: Injective: no order-book sample; Backpack: 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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 22 min ago	1.19 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0869%	1h	0.4594	+0.571%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4585	+0.365%	$259K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4591	+0.503%	$6K	—	150x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4568	long leg	$888	$216K	5.5x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4591	+0.504%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4579	+0.235%	$429K	$705K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4581	+0.279%	$68.6M	$221.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4578	+0.219%	$73.8M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4579	+0.241%	$17.6M	$77.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4593	+0.545%	$73K	$91K	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	0.4580	+0.255%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4581	+0.285%	$12.0M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4584	+0.350%	$49.2M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4584	+0.350%	$14.2M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4583	+0.328%	$26.1M	$38.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4583	+0.328%	—	$22.0M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4599	+0.673%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.776%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4601	+0.728%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	+0.788%	$172K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4597	+0.635%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4594	+0.569%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4594	+0.569%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4600	+0.701%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4595	+0.591%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4582	+0.299%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4582	+0.298%	$417K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4596	+0.614%	$40K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0107%	4h	0.4586	+0.388%	$723K	$2.1M	20x	as long as short
Backpack ONDO_USDC_PERPshort	+0.0114%	1h	0.4595	+0.591%	$231K	$1.0M	15x
Phoenix ONDO	+0.0244%	1h	0.4601	+0.711%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4582	+0.313%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4591	+0.504%	$300K	$816K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4598	+0.657%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0378%	1h	0.4591	+0.510%	$40.9M	$24.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4594	+0.569%	$34K	$340K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4591	+0.504%	$548K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4596	+0.606%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4595	+0.585%	$2K	—	20x	as long as short