ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0144%/8h= +15.8% APRnext payment +$0.18 per $10,000 · paid last 24h −0.003%

Price spread now: Phoenix against Nado+0.186%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Nado Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 3 days (all we have)−0.214%−$21 · spread now +0.186%, 7d avg +0.073%

Together, before fees−0.227%+ Points / potential airdropNado: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.113% dearer against Nado than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4565	0.0100	pay 0.0012% / 1h	44m 48s	$430K	$705K	10x
Short	Phoenix ONDO	0.4573	0.0244	get 0.0031% / 1h	44m 48s	$38K	$257K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Nado. 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 NadobpFee PhoenixbpOrdersPrice spread, now +0.186%Rate

Funding earned: $30.26
Price spread: +0.186% → +0.073%: $11.28
Slippage, 4 orders: −$26.17
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $1.37
Costs to cover: 0.402%
Break-even: 6.7 days

Slippage from Nado: live order book, 33 min ago; Phoenix: live order book, 28 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 Nado live order book, 33 min ago	1.95 bp	7.6 bp −$8	24.5 bp −$245	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 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_ONDOUSD	−0.0799%	1h	0.4562	−0.064%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.066%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4562	−0.061%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4563	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4565	long leg	$430K	$705K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4565	+0.001%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4563	−0.033%	$68.3M	$227.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4563	−0.044%	$74.0M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4561	−0.088%	$17.8M	$81.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4566	+0.015%	$74K	$89K	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	0.4563	−0.046%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4560	−0.110%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4562	−0.066%	$49.5M	$43.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4563	−0.044%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4562	−0.066%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4562	−0.066%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4573	+0.174%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4575	+0.209%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4575	+0.210%	$433K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4568	+0.066%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4565	−0.004%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4567	+0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4563	−0.044%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4574	+0.197%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4564	−0.022%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4564	−0.022%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4562	−0.067%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4567	+0.038%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0182%	1h	0.4563	−0.042%	$230K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4564	−0.022%	$36K	$436K	25x	as long as short
Phoenix ONDOshort	+0.0244%	1h	0.4573	+0.186%	$38K	$257K	10x
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.745%	$302K	$859K	50x	as long as short
Hyperliquid ONDO	+0.0334%	1h	0.4566	+0.031%	$40.5M	$26.8M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4566	+0.022%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0448%	1h	0.4567	+0.055%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4562	−0.076%	$545K	—	100x	as long as short
Lighter ONDO	+0.0952%	1h	0.4571	+0.140%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4563	−0.036%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6619%	1h	0.4560	−0.102%	$258K	$131K	5x	as long as short