ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0213%/8h= −23.3% APRnext payment −$0.27 per $10,000 · paid last 24h −0.018%

Price spread now: ApeX Omni against Phoenix−0.194%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$8 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.194%, 7d avg −0.037%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.157% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.075%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 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	Phoenix ONDO	0.4336	0.0313	pay 0.0039% / 1h	22m 20s	$35K	$223K	10x
Short	ApeX Omni ONDOUSDT	0.4328	0.0100	get 0.0013% / 1h	22m 20s	$132K	$340K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now −0.194%Rate

Funding earned: −$44.69
Price spread: −0.194% → −0.037%: −$15.67
Slippage, 4 orders: −$28.27
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$105.63
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Phoenix: live order book, 15 min ago; ApeX Omni: live order book, 20 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 Phoenix live order book, 15 min ago	0.93 bp	12.6 bp −$13	51.5 bp −$515	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 20 min ago	3.47 bp	8.6 bp −$9	21.5 bp −$215	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	−0.0146%	1h	0.4331	−0.132%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4330	−0.138%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0004%	1h	0.4334	−0.049%	$243K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.341%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	−0.005%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4333	−0.078%	$348K	$893K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4335	−0.025%	$779K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.055%	$62.6M	$234.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4332	−0.101%	$67.9M	$124.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4334	−0.055%	$17.3M	$72.5M	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	0.4334	−0.046%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.043%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4332	−0.101%	$12.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.078%	$43.6M	$42.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4333	−0.078%	$12.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4333	−0.078%	$24.8M	$38.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4333	−0.078%	—	$773K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	−0.074%	$172K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4342	+0.123%	$667K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4327	−0.222%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4328	−0.193%	$406K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4328	−0.194%	$132K	$340K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4336	−0.014%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4331	−0.125%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4335	−0.032%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	−0.078%	$450	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4342	+0.129%	$129K	$401K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	−0.101%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.071%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4332	−0.102%	$375K	$803K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4335	−0.021%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0147%	1h	0.4337	+0.014%	$36.4M	$27.1M	10x	as long as short
01 Exchange ONDOUSD	+0.0200%	1h	0.4336	−0.016%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4334	−0.055%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4342	+0.129%	$215K	$728K	50x	as long as short
Phoenix ONDOlong	+0.0313%	1h	0.4336	long leg	$35K	$223K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4334	−0.055%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4330	−0.138%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4333	−0.084%	$2K	—	20x	as long as short