ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0901%/8h= −98.7% APRnext payment −$1.13 per $10,000 · paid last 24h +0.162%

Price spread now: Kraken Futures against Polymarket Perps−0.069%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.296%+$30 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.069%, 7d avg +0.012%

Together, before fees+0.311%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Kraken Futures is 0.080% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.296%, 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 0.296% in total (about 15.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.13 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	Polymarket Perps ONDO-USD	0.4556	0.0100	pay 0.0013% / 1h	38m 24s	$69K	$1.2M	10x
Short	Kraken Futures PF_ONDOUSD	0.4553	−0.0801	pay 0.0100% / 1h	38m 24s	$2.8M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$189.22
Price spread: −0.069% → +0.012%: −$8.04
Slippage, 4 orders: −$24.91
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$240.17
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Kraken Futures: live order book, 6 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 Polymarket Perps live order book, 5 min ago	2.52 bp	6.8 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	5.48 bp	16.7 bp −$17	23.9 bp −$239	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_ONDOUSDshort	−0.0801%	1h	0.4553	−0.069%	$2.8M	$8.1M	50x
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.257%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4551	−0.108%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4551	−0.116%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4555	−0.029%	$437K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4556	+0.004%	$724K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4553	−0.072%	$68.2M	$228.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4552	−0.094%	$73.7M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4553	−0.072%	$17.7M	$81.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.268%	$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	0.4554	−0.056%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4551	−0.116%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4552	−0.094%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4553	−0.072%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4553	−0.072%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4553	−0.072%	—	$22.2M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4559	+0.058%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	−0.029%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4556	+0.003%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4560	+0.081%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USDlong	+0.0100%	1h	0.4556	long leg	$69K	$1.2M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4553	−0.072%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4553	−0.072%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.147%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4549	−0.160%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4554	−0.051%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4552	−0.095%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4555	−0.040%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0125%	1h	0.4551	−0.112%	$229K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4554	−0.050%	$36K	$436K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.180%	$38K	$257K	10x	as long as short
Hyperliquid ONDO	+0.0288%	1h	0.4558	+0.046%	$40.4M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4550	−0.138%	$298K	$851K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4548	−0.182%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4558	+0.044%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4551	−0.110%	$544K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4564	+0.162%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4553	−0.063%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5139%	1h	0.4554	−0.049%	$258K	$131K	5x	as long as short