ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0228%/8h= −25.0% APRnext payment −$0.29 per $10,000 · paid last 24h −0.117%

Price spread now: Polymarket Perps against Coinbase International−0.352%7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs−$130as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$550.545% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.757%−$76 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now −0.352%, 7d avg −0.166%

Together, before fees−0.457%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Polymarket Perps is 0.186% cheaper against Coinbase International than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.166%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4404	0.0328	pay 0.0041% / 1h	20m 36s	$272K	$730K	50x
Short	Polymarket Perps ONDO-USD	0.4389	0.0100	get 0.0013% / 1h	20m 36s	$69K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.352%Rate

Funding earned: −$47.88
Price spread: −0.352% → −0.166%: −$18.59
Slippage, 4 orders: −$36.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$121.02
Costs to cover: 0.545%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 38 min ago; Polymarket Perps: 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 Coinbase International live order book, 38 min ago	12.60 bp	21.8 bp −$22	54.0 bp −$540	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.94 bp	5.9 bp −$6	6.2 bp −$62	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4385	−0.435%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4385	−0.429%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.724%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4390	−0.320%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4385	−0.431%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4383	−0.483%	$362K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4390	−0.309%	$37.6M	$24.7M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4384	−0.454%	$63.3M	$230.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4381	−0.522%	$67.7M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4383	−0.477%	$17.1M	$73.1M	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	0.4398	−0.145%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4382	−0.492%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4383	−0.477%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4383	−0.477%	$44.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4384	−0.454%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4384	−0.454%	$25.1M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4384	−0.454%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4387	−0.393%	$187K	$977K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.461%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	−0.360%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.318%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	−0.272%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4389	−0.352%	$69K	$1.4M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4388	−0.363%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4387	−0.386%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4395	−0.204%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4386	−0.409%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4382	−0.499%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4383	−0.480%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4390	−0.329%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4383	−0.484%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0223%	4h	0.4387	−0.386%	$758K	$2.5M	20x	as long as short
dYdX ONDO-USD	+0.0303%	1h	0.4384	−0.450%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0328%	1h	0.4404	long leg	$272K	$730K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4387	−0.386%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4392	−0.282%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0434%	1h	0.4388	−0.363%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4385	−0.434%	$521K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4387	−0.376%	$2K	—	20x	as long as short