ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h −0.044%

Price spread now: Hyperliquid against Coinbase International−0.048%49s7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as 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−$560.563% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.450%−$45 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.048%, 7d avg −0.120%

Together, before fees−0.501%+ Points / potential airdropHyperliquid: Season 2 · farm board−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.072% dearer against Coinbase International than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.120%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 33 hours. The two prices were read 49 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	Coinbase International ONDO-PERP-INTX	0.4347	0.0272	pay 0.0034% / 1h	17m 17s	$218K	$762K	50x
Short	Hyperliquid ONDO	0.4345	0.0100	get 0.0013% / 1h	17m 17s	$36.2M	$26.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$36.12
Price spread: −0.048% → −0.120%: $7.2
Slippage, 4 orders: −$37.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$85.22
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 31 min ago; Hyperliquid: 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 Coinbase International live order book, 31 min ago	8.07 bp	26.2 bp −$26	79.1 bp −$791	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.12 bp	5.4 bp −$5	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	−0.0240%	1h	0.4344	−0.074%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4340	−0.162%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0012%	1h	0.4340	−0.151%	$244K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.084%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4345	−0.044%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4342	−0.109%	$349K	$882K	10x	as long as short
Hyperliquid ONDOshort	+0.0100%	1h	0.4345	−0.048%	$36.2M	$26.4M	10x
Aster ONDOUSDT	+0.0100%	4h	0.4344	−0.062%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4342	−0.115%	$62.9M	$237.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4339	−0.184%	$67.8M	$126.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4342	−0.115%	$17.3M	$73.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4335	−0.274%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4343	−0.096%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4342	−0.115%	$12.2M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4341	−0.138%	$43.2M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4342	−0.115%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4341	−0.138%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4341	−0.138%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4344	−0.062%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.627%	$631K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4325	−0.512%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	−0.137%	$411K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4344	−0.069%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4343	−0.090%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4341	−0.138%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4346	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	0.000%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4355	+0.184%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4345	−0.046%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4343	−0.096%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4342	−0.107%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4344	−0.069%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4344	−0.081%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0272%	1h	0.4347	long leg	$218K	$762K	50x
Phoenix ONDO	+0.0332%	1h	0.4346	−0.021%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4341	−0.138%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0441%	1h	0.4343	−0.092%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4339	−0.173%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4342	−0.126%	$2K	—	20x	as long as short