Funding you earn now, next payment 23:00 UTC+0.1046%/8h= +114.5% APRnext payment +$1.31 per $10,000 · paid last 24h −0.158%
Price spread now: Phoenix against Kraken Futures+0.334%71s7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$540.545% of the position
Funding, last 7 days−0.389%−$39 on $10k
+Price spread, last 3 days (all we have)−0.440%−$44 · spread now +0.334%, 7d avg −0.009%
=Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Phoenix is 0.343% dearer against Kraken Futures than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.009%. Mind the row above: over the last 7 days funding on this pair cost −0.389%, so the current rate has only just turned in your favour. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.389% in total (about -20.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ONDOUSD | 0.4549 | −0.0802 | get 0.0100% / 1h | 40m 20s | $2.8M | $8.1M | 50x |
| Short | Phoenix ONDO | 0.4565 | 0.0244 | get 0.0031% / 1h | 40m 20s | $38K | $257K | 10x |
Kraken Futures PF_ONDOUSD
Phoenix ONDOFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $219.62
- Price spread: +0.334% → −0.009%
- $34.35
- Slippage, 4 orders
- −$37.48
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $199.49
- Costs to cover
- 0.545%
- Break-even
- 0.6 days
Slippage from Kraken Futures: live order book, 4 min ago; Phoenix: live order book, 32 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 Kraken Futures live order book, 4 min ago | 5.48 bp | 12.6 bp −$13 | 25.3 bp −$253 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 1.09 bp | 12.6 bp −$13 | 43.6 bp −$436 | 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_ONDOUSDlong | −0.0802% | 1h | 0.4549 | long leg | $2.8M | $8.1M | 50x | |
| Injective ONDO/USDC PERP | −0.0545% | 1h | 0.4568 | +0.411% | $888 | $216K | 5.5x | as long as short |
| gTrade (Gains Network) ONDO/USD | L +0.0003% / S −0.0008% | 1h | 0.4550 | +0.020% | $6K | — | 150x | as long as short |
| Orderly PERP_ONDO_USDC | +0.0098% | 4h | 0.4549 | −0.006% | $25K | $8K | 10x | as long as short |
| Nado ONDO-PERP | +0.0100% | 1h | 0.4550 | +0.016% | $430K | $706K | 10x | as long as short |
| Aster ONDOUSDT | +0.0100% | 4h | 0.4554 | +0.094% | $723K | $2.1M | 20x | as long as short |
| Binance ONDOUSDT | +0.0100% | 4h | 0.4551 | +0.038% | $68.0M | $228.1M | 75x | as long as short |
| Bybit ONDOUSDT | +0.0100% | 4h | 0.4550 | +0.016% | $73.7M | $123.2M | 50x | as long as short |
| OKX ONDO-USDT-SWAP | +0.0100% | 4h | 0.4551 | +0.038% | $17.7M | $81.0M | 50x | as long as short |
| Ondo Perps ONDO-USD.P | +0.0100% | 1h | 0.4544 | −0.123% | $74K | $89K | 10x | as long as short |
Injective ONDO/USDC PERP
gTrade (Gains Network) ONDO/USD
Orderly PERP_ONDO_USDC
Nado ONDO-PERP
Aster ONDOUSDT
Binance ONDOUSDT
Bybit ONDOUSDT
OKX ONDO-USDT-SWAP
Ondo Perps ONDO-USD.PShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| RISEx ONDO/USDC | +0.0100% | 1h | 0.4549 | −0.006% | — | — | 5x | as long as short |
| Gate ONDO_USDT | +0.0100% | 4h | 0.4548 | −0.028% | $11.9M | $18.0M | 50x | as long as short |
| MEXC ONDO_USDT | +0.0100% | 4h | 0.4550 | +0.016% | $49.3M | $43.4M | 200x | as long as short |
| KuCoin ONDOUSDTM | +0.0100% | 4h | 0.4552 | +0.060% | $14.0M | $11.1M | 50x | as long as short |
| Bitget ONDOUSDT | +0.0100% | 4h | 0.4550 | +0.016% | $25.7M | $41.5M | 50x | as long as short |
| BingX ONDO-USDC | +0.0100% | 4h | 0.4550 | +0.016% | — | $742K | — | as long as short |
| Variational Omni ONDO | +0.0100% | 4h | 0.4559 | +0.212% | $780K | $2.0M | — | as long as short |
| edgeX ONDOUSDC | +0.0100% | 4h | 0.4565 | +0.352% | $5K | $320K | 20x | as long as short |
| GRVT ONDO_USDT_Perp | +0.0100% | 4h | 0.4562 | +0.279% | $421K | $960K | 10x | as long as short |
| ApeX Omni ONDOUSDT | +0.0100% | 1h | 0.4564 | +0.323% | $173K | $312K | 50x | as long as short |
| Polymarket Perps ONDO-USD | +0.0100% | 1h | 0.4552 | +0.068% | $68K | $1.2M | 10x | as long as short |
| SunX ONDO-USDT | +0.0100% | 4h | 0.4550 | +0.016% | — | $1.4M | 20x | as long as short |
| SoDEX ONDO-USD | +0.0100% | 1h | 0.4551 | +0.038% | $473 | $14K | 10x | as long as short |
| HTX ONDO-USDT | +0.0100% | 4h | 0.4560 | +0.235% | $133K | $504K | 50x | as long as short |
| Phemex ONDOUSDT | +0.0100% | 4h | 0.4552 | +0.060% | $4.6M | $6.8M | 50x | as long as short |
| Paradex ONDO-USD-PERP | +0.0101% | 8h | 0.4550 | +0.014% | $7K | $9 | 10x | as long as short |
| Extended ONDO-USD | +0.0104% | 1h | 0.4550 | +0.009% | $407K | $843K | 25x | as long as short |
| Aevo ONDO-PERP | +0.0104% | 1h | 0.4552 | +0.060% | $44K | $8K | 3x | as long as short |
| Backpack ONDO_USDC_PERP | +0.0151% | 1h | 0.4557 | +0.169% | $230K | $1.0M | 15x | as long as short |
| Deribit ONDO_USDC-PERPETUAL | +0.0190% | 1h | 0.4551 | +0.038% | $36K | $436K | 25x | as long as short |
| Phoenix ONDOshort | +0.0244% | 1h | 0.4565 | +0.334% | $38K | $257K | 10x | |
| Coinbase International ONDO-PERP-INTX | +0.0304% | 1h | 0.4574 | +0.543% | $299K | $855K | 50x | as long as short |
| Hyperliquid ONDO | +0.0305% | 1h | 0.4554 | +0.101% | $40.4M | $26.9M | 10x | as long as short |
| BloFin ONDO-USDT | +0.0340% | 4h | 0.4553 | +0.082% | $3.3M | $3.2M | 75x | as long as short |
| 01 Exchange ONDOUSD | +0.0408% | 1h | 0.4553 | +0.073% | $375 | $2K | 10x | as long as short |
| GMX ONDO/USD [ETH-USDC] | L +0.0586% / S −0.0188% | 1h | 0.4550 | +0.005% | $543K | — | 100x | as long as short |
| Lighter ONDO | +0.0888% | 1h | 0.4560 | +0.233% | $1.5M | $2.3M | 10x | as long as short |
| Reya ONDORUSDPERP | +0.1143% | 1h | 0.4550 | +0.014% | $2K | — | 20x | as long as short |
| dYdX ONDO-USD | +0.5662% | 1h | 0.4554 | +0.108% | $258K | $131K | 5x | as long as short |
RISEx ONDO/USDC
Gate ONDO_USDT
MEXC ONDO_USDT
KuCoin ONDOUSDTM
Bitget ONDOUSDT
BingX ONDO-USDC
Variational Omni ONDO
edgeX ONDOUSDC
GRVT ONDO_USDT_Perp
ApeX Omni ONDOUSDT
Polymarket Perps ONDO-USD
SunX ONDO-USDT
SoDEX ONDO-USD
HTX ONDO-USDT
Phemex ONDOUSDT
Paradex ONDO-USD-PERP
Extended ONDO-USD
Aevo ONDO-PERP
Backpack ONDO_USDC_PERP
Deribit ONDO_USDC-PERPETUAL
Coinbase International ONDO-PERP-INTX
Hyperliquid ONDO
BloFin ONDO-USDT
01 Exchange ONDOUSD
GMX ONDO/USD [ETH-USDC]
Lighter ONDO
Reya ONDORUSDPERP
dYdX ONDO-USD