ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0061%/8h= +6.7% APRnext payment +$0.08 per $10,000 · paid last 24h +0.064%

Price spread now: Hyperliquid against Backpack−0.007%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.297%+$30 on $10k

Price spread, last 7 days+0.126%+$13 · spread now −0.007%, 7d avg +0.073%

Together, before fees+0.423%+ Points / potential airdropHyperliquid: Season 2 · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.080% cheaper against Backpack than usual: you would sell low and buy high (spread −0.007% now, against its 7-day average of +0.073%). If the spread goes back, that is −$8 on $10k: about 4.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.297% in total) that is about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4348	0.0100	pay 0.0013% / 1h	12m 41s	$183K	$978K	15x
Short	Hyperliquid ONDO	0.4347	0.0161	get 0.0020% / 1h	12m 41s	$37.0M	$24.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Backpack. 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 BackpackbpFee HyperliquidbpOrdersPrice spread, now −0.007%Rate

Funding earned: $12.82
Price spread: −0.007% → +0.073%: −$7.97
Slippage, 4 orders: −$15.91
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$30.06
Costs to cover: 0.349%
Break-even: 23.4 days

Slippage from Backpack: live order book, 46 min ago; Hyperliquid: live order book, 11 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 Backpack live order book, 46 min ago	0.91 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.12 bp	6.0 bp −$6	doesn't fit	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	−0.0161%	1h	0.4346	−0.035%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4347	−0.020%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.067%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4349	+0.023%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4347	−0.016%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4345	−0.074%	$358K	$843K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4343	−0.098%	$62.7M	$231.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4341	−0.154%	$67.5M	$124.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4343	−0.108%	$17.1M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4348	+0.014%	$72K	$83K	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	0.4343	−0.119%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4344	−0.085%	$11.8M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4346	−0.039%	$43.1M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4347	−0.016%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4344	−0.085%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4346	−0.039%	—	$23.5M	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4348	long leg	$183K	$978K	15x
Variational Omni ONDO	+0.0100%	4h	0.4351	+0.070%	$689K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4354	+0.142%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4354	+0.137%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4356	+0.191%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4346	−0.037%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4348	+0.007%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4348	+0.007%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4354	+0.145%	$128K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4349	+0.030%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4343	−0.097%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4342	−0.131%	$391K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4350	+0.061%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0145%	4h	0.4345	−0.062%	$785K	$2.6M	20x	as long as short
Hyperliquid ONDOshort	+0.0161%	1h	0.4347	−0.007%	$37.0M	$24.9M	10x
01 Exchange ONDOUSD	+0.0168%	1h	0.4342	−0.133%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4343	−0.108%	$219K	$765K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4356	+0.186%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4349	+0.030%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0440%	1h	0.4349	+0.030%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4346	−0.033%	$483K	—	100x	as long as short
dYdX ONDO-USD	+0.1039%	1h	0.4344	−0.080%	$246K	$129K	5x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4346	−0.034%	$2K	—	20x	as long as short