ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0296%/8h= −32.4% APRnext payment −$0.37 per $10,000 · paid last 24h +0.001%

Price spread now: Coinbase International against Lighter−0.193%7-day average +0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$640.637% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.600%+$60 on $10k

Price spread, last 3 days (all we have)−0.189%−$19 · spread now −0.193%, 7d avg +0.124%

Together, before fees+0.411%+ Points / potential airdropLighter: Season 3 · farm board+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Coinbase International is 0.317% cheaper against Lighter than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +0.124%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.600%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4518	0.0768	pay 0.0096% / 1h	32m 34s	$1.2M	$2.1M	10x
Short	Coinbase International ONDO-PERP-INTX	0.4509	0.0472	get 0.0059% / 1h	32m 34s	$317K	$803K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. 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 LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$62.16
Price spread: −0.193% → +0.124%: −$31.67
Slippage, 4 orders: −$53.74
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$157.57
Costs to cover: 0.637%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Coinbase International: live order book, 16 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 Lighter live order book, 5 min ago	3.45 bp	14.3 bp −$14	32.4 bp −$324	doesn't fit	doesn't fit
Sell Coinbase International live order book, 16 min ago	12.37 bp	17.4 bp −$17	53.2 bp −$532	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	−0.0942%	1h	0.4501	−0.377%	$2.9M	$7.3M	50x	as long as short
Phemex ONDOUSDT	−0.0382%	4h	0.4507	−0.237%	$5.0M	$6.0M	50x	as long as short
Bybit ONDOUSDT	−0.0098%	4h	0.4508	−0.215%	$71.6M	$113.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4505	−0.281%	$20K	$344K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4506	−0.266%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.251%	$994	$82K	5.5x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4510	−0.162%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4503	−0.314%	$456K	$638K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4511	−0.143%	$67.1M	$217.6M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4509	−0.193%	$17.7M	$78.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4488	−0.657%	$74K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4513	−0.102%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4509	−0.193%	$11.9M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4511	−0.148%	$52.3M	$44.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4512	−0.126%	$13.9M	$10.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4512	−0.126%	$25.7M	$40.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4511	−0.148%	—	$747K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4514	−0.080%	$224K	$940K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4492	−0.578%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4489	−0.626%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4487	−0.680%	$423K	$856K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4506	−0.259%	$159K	$326K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4505	−0.286%	$72K	$997K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4503	−0.325%	$25K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4504	−0.303%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4504	−0.303%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4513	−0.104%	$124K	$512K	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4509	−0.184%	$404K	$995K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4505	−0.292%	$35K	—	3x	as long as short
Aster ONDOUSDT	+0.0118%	4h	0.4516	−0.043%	$758K	$1.9M	20x	as long as short
Phoenix ONDO	+0.0144%	1h	0.4504	−0.310%	$29K	$222K	10x	as long as short
01 Exchange ONDOUSD	+0.0296%	1h	0.4514	−0.073%	$372	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4508	−0.215%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0458%	1h	0.4518	−0.002%	$41.0M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0472%	1h	0.4509	−0.193%	$317K	$803K	50x
GMX ONDO/USD [ETH-USDC]	L +0.0612% / S −0.0203%	1h	0.4506	−0.258%	$559K	—	100x	as long as short
Lighter ONDOlong	+0.0768%	1h	0.4518	long leg	$1.2M	$2.1M	10x
Reya ONDORUSDPERP	+0.1136%	1h	0.4503	−0.326%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.7147%	1h	0.4513	−0.114%	$255K	$117K	5x	as long as short