ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.805%

Price spread now: Backpack against Injective+0.029%72s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+3.413%+$341 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.029% dearer against Injective than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 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	Injective ONDO/USDC PERP	0.4522	0.0033	pay 0.0004% / 1h	23m 44s	$1K	$132K	5.5x
Short	Backpack ONDO_USDC_PERP	0.4523	0.0100	get 0.0013% / 1h	23m 44s	$193K	$971K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now +0.029%Rate

Funding earned: $14
Price spread: +0.029% → 0.000%: $2.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: $6.85
Costs to cover: 0.100%
Break-even: 3.6 days

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 65 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 65 min ago	1.89 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1125%	1h	0.4519	−0.068%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	+0.022%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4522	+0.011%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4529	+0.157%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4522	long leg	$1K	$132K	5.5x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4521	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4523	+0.028%	$426K	$678K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4521	−0.022%	$764K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4520	−0.049%	$66.7M	$220.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4517	−0.111%	$73.3M	$118.0M	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	0.4518	−0.088%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4534	+0.274%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4518	−0.093%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4518	−0.088%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4519	−0.066%	$47.6M	$45.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4519	−0.066%	$13.5M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4519	−0.066%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4519	−0.066%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERPshort	+0.0100%	1h	0.4523	+0.029%	$193K	$971K	15x
Variational Omni ONDO	+0.0100%	4h	0.4536	+0.317%	$785K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4528	+0.134%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4529	+0.154%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4532	+0.221%	$160K	$331K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4522	+0.011%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4521	−0.022%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4531	+0.199%	$128K	$515K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4522	0.000%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4517	−0.101%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4516	−0.124%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4523	+0.022%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0249%	1h	0.4523	+0.031%	$40.4M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.376%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4525	+0.066%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4521	−0.029%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4526	+0.080%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4521	−0.015%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4521	−0.014%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9831%	1h	0.4521	−0.027%	$256K	$123K	5x	as long as short