ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0276%/8h= −30.2% APRnext payment −$0.35 per $10,000 · paid last 24h +0.022%

Price spread now: Kraken Futures against Backpack−0.029%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.258%+$26 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.029%, 7d avg +0.042%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.071% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.258%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ONDO_USDC_PERP	0.4335	0.0100	pay 0.0013% / 1h	35m 45s	$179K	$1.0M	15x
Short	Kraken Futures PF_ONDOUSD	0.4334	−0.0176	pay 0.0022% / 1h	35m 45s	$2.5M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$58.01
Price spread: −0.029% → +0.042%: −$7.14
Slippage, 4 orders: −$28.1
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$113.25
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.23 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.31 bp	21.1 bp −$21	31.1 bp −$311	362.0 bp −$36.2K	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	−0.0176%	1h	0.4334	−0.029%	$2.5M	$7.8M	50x
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4335	−0.007%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4333	−0.063%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.368%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4339	+0.085%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4331	−0.088%	$345K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	+0.039%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.032%	$63.3M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4331	−0.099%	$68.2M	$121.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4333	−0.053%	$17.3M	$71.6M	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	0.4337	+0.044%	$71K	$79K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4330	−0.113%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4332	−0.076%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.053%	$44.4M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4334	−0.030%	$12.2M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4334	−0.030%	$24.9M	$36.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4334	−0.030%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERPlong	+0.0100%	1h	0.4335	long leg	$179K	$1.0M	15x
Variational Omni ONDO	+0.0100%	4h	0.4332	−0.081%	$681K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	−0.084%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	−0.076%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	−0.099%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4330	−0.111%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4332	−0.076%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	−0.076%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	−0.007%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4339	+0.085%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4336	+0.016%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4331	−0.096%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4332	−0.074%	$362K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	+0.016%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.108%	$214K	$720K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4340	+0.111%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4333	−0.055%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	+0.131%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0582% / S −0.0208%	1h	0.4332	−0.078%	$501K	—	100x	as long as short
Hyperliquid ONDO	+0.0609%	1h	0.4337	+0.044%	$36.5M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4335	−0.001%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2870%	1h	0.4333	−0.048%	$243K	$155K	5x	as long as short