ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0346%/8h= −37.9% APRnext payment −$0.43 per $10,000 · paid last 24h −0.019%

Price spread now: Polymarket Perps against Deribit−0.030%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.030%, 7d avg +0.039%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Polymarket Perps is 0.069% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.009% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 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	0.4315	0.0446	pay 0.0056% / 1h	17m 57s	$18K	$351K	25x
Short	Polymarket Perps ONDO-USD	0.4314	0.0100	get 0.0013% / 1h	17m 57s	$60K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$72.66
Price spread: −0.030% → +0.039%: −$6.87
Slippage, 4 orders: −$22.03
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$116.56
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from Deribit: live order book, 21 min ago; Polymarket Perps: live order book, 5 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, 21 min ago	8.09 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.63 bp	8.0 bp −$8	9.4 bp −$94	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	−0.0176%	1h	0.4311	−0.082%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4312	−0.070%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.863%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4316	+0.032%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4312	−0.070%	$345K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4314	−0.023%	$751K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4314	−0.015%	$62.8M	$234.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4313	−0.046%	$67.9M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4315	0.000%	$17.3M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4305	−0.236%	$71K	$80K	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	0.4311	−0.091%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4312	−0.070%	$12.9M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4314	−0.023%	$43.8M	$42.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4313	−0.046%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4314	−0.023%	$24.6M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4313	−0.046%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4314	−0.035%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4292	−0.539%	$673K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4302	−0.305%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4297	−0.417%	$395K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4302	−0.301%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4314	−0.030%	$60K	$1.4M	10x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4312	−0.070%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4313	−0.046%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4314	−0.023%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4317	+0.046%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4313	−0.046%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	−0.065%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4312	−0.066%	$355K	$808K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4315	0.000%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4314	−0.021%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4309	−0.139%	$213K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4300	−0.345%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4310	−0.116%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0352%	1h	0.4318	+0.074%	$36.4M	$27.2M	10x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0446%	1h	0.4315	long leg	$18K	$351K	25x
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4311	−0.098%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4312	−0.075%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1671%	1h	0.4310	−0.116%	$242K	$156K	5x	as long as short