ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.11 per $10,000 · paid last 24h +0.114%

Price spread now: Coinbase International against Phoenix+0.589%48s7-day average +0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs+$12as 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−$720.721% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.842%+$84 on $10k

Price spread, last 3 days (all we have)−0.336%−$34 · spread now +0.589%, 7d avg +0.151%

Together, before fees+0.506%+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.438% dearer against Phoenix than usual: you sell high and buy low: +$44 more if the spread goes back to its 7-day average of +0.151%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ONDO	0.4396	0.0272	pay 0.0034% / 1h	53m 28s	$35K	$225K	10x
Short	Coinbase International ONDO-PERP-INTX	0.4422	0.0360	get 0.0045% / 1h	53m 28s	$284K	$706K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.589%Rate

Funding earned: $18.49
Price spread: +0.589% → +0.151%: $43.81
Slippage, 4 orders: −$55.06
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$9.75
Costs to cover: 0.721%
Break-even: 10.7 days

Slippage from Phoenix: live order book, 3 min ago; Coinbase International: live order book, 10 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, 3 min ago	0.90 bp	12.5 bp −$12	50.8 bp −$508	doesn't fit	doesn't fit
Sell Coinbase International live order book, 10 min ago	7.95 bp	16.8 bp −$17	62.1 bp −$621	doesn't fit	doesn't fit

ONDO on 38 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
ApeX Omni ONDOUSDT	−0.0069%	1h	0.4382	−0.321%	$135K	$353K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	+0.072%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	+0.293%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.910%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	+0.069%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4411	+0.339%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4405	+0.197%	$376K	$834K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4409	+0.291%	$671K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4412	+0.362%	$64.0M	$225.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4411	+0.339%	$69.9M	$121.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4413	+0.384%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.111%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4405	+0.209%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4409	+0.293%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4407	+0.248%	$46.7M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4406	+0.225%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4413	+0.384%	$25.1M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4412	+0.362%	—	$21.9M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4418	+0.493%	$712K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4400	+0.088%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.144%	$405K	$978K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	+0.257%	$79K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	+0.043%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4413	+0.384%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4415	+0.430%	$130K	$481K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4406	+0.223%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4406	+0.218%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4416	+0.463%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0153%	1h	0.4409	+0.303%	$38.6M	$24.0M	10x	as long as short
Phemex ONDOUSDT	+0.0177%	4h	0.4397	+0.020%	$4.2M	$7.5M	50x	as long as short
Backpack ONDO_USDC_PERP	+0.0199%	1h	0.4398	+0.052%	$191K	$982K	15x	as long as short
Phoenix ONDOlong	+0.0272%	1h	0.4396	long leg	$35K	$225K	10x
Coinbase International ONDO-PERP-INTXshort	+0.0360%	1h	0.4422	+0.589%	$284K	$706K	50x
01 Exchange ONDOUSD	+0.0368%	1h	0.4410	+0.309%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	+0.134%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4409	+0.293%	$486K	—	100x	as long as short
Lighter ONDO	+0.0648%	1h	0.4408	+0.266%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4406	+0.235%	$2K	—	20x	as long as short