ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0676%/8h= −74.0% APRnext payment −$0.84 per $10,000 · paid last 24h +0.034%

Price spread now: Kraken Futures against Deribit−0.021%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.270%+$27 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.021%, 7d avg +0.046%

Together, before fees+0.324%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Kraken Futures is 0.067% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.046%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.270%, 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 0.270% in total (about 14.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.84 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	Deribit ONDO_USDC-PERPETUAL	0.4368	0.0437	pay 0.0055% / 1h	5m 46s	$18K	$362K	25x
Short	Kraken Futures PF_ONDOUSD	0.4367	−0.0239	pay 0.0030% / 1h	5m 46s	$2.6M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$141.94
Price spread: −0.021% → +0.046%: −$6.75
Slippage, 4 orders: −$46.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$211.97
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Deribit: live order book, 43 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 Deribit live order book, 43 min ago	5.76 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	5.73 bp	23.7 bp −$24	33.1 bp −$331	514.9 bp −$51.5K	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	−0.0239%	1h	0.4367	−0.021%	$2.6M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4365	−0.071%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0009%	1h	0.4360	−0.178%	$245K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.579%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4371	+0.076%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4370	+0.040%	$349K	$893K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4370	+0.053%	$36.9M	$27.1M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4370	+0.046%	$779K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4368	0.000%	$63.5M	$238.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4365	−0.069%	$68.2M	$126.8M	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	0.4365	−0.069%	$17.4M	$74.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4357	−0.259%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4365	−0.061%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4365	−0.069%	$12.4M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4370	+0.046%	$43.7M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4367	−0.023%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4369	+0.023%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4367	−0.023%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4370	+0.043%	$182K	$992K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4365	−0.075%	$647K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4361	−0.165%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4360	−0.177%	$408K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4362	−0.137%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4369	+0.016%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4366	−0.046%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4368	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4368	0.000%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4372	+0.092%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4367	−0.023%	$4.2M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4367	−0.021%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4368	−0.011%	$393K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4371	+0.066%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0152%	1h	0.4371	+0.064%	$360	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4366	−0.046%	$217K	$756K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4371	+0.066%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4364	−0.092%	$3.1M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0437%	1h	0.4368	long leg	$18K	$362K	25x
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0202%	1h	0.4365	−0.070%	$497K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4367	−0.023%	$2K	—	20x	as long as short