ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0123%/8h= +13.5% APRnext payment +$0.15 per $10,000 · paid last 24h −0.081%

Price spread now: Backpack against Kraken Futures+0.241%51s7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as 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−$570.566% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.241%, 7d avg −0.050%

Together, before fees−0.392%−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.290% dearer against Kraken Futures than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −0.262%, so the current rate has only just turned in your favour. The two prices were read 51 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	Kraken Futures PF_ONDOUSD	0.4407	0.0061	pay 0.0008% / 1h	10m 22s	$2.6M	$8.2M	50x
Short	Backpack ONDO_USDC_PERP	0.4418	0.0185	get 0.0023% / 1h	10m 22s	$192K	$979K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.241%Rate

Funding earned: $25.93
Price spread: +0.241% → −0.050%: $29.05
Slippage, 4 orders: −$36.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$1.61
Costs to cover: 0.566%
Break-even: 7.4 days

Slippage from Kraken Futures: live order book, 4 min ago; Backpack: live order book, 59 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 Kraken Futures live order book, 4 min ago	4.53 bp	17.5 bp −$17	25.8 bp −$258	doesn't fit	doesn't fit
Sell Backpack live order book, 59 min ago	1.94 bp	10.2 bp −$10	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
dYdX ONDO-USD	+0.0001%	1h	0.4413	+0.132%	$250K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4407	−0.009%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.647%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0061%	1h	0.4407	long leg	$2.6M	$8.2M	50x
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4408	+0.016%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4412	+0.118%	$373K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4410	+0.062%	$64.2M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4408	+0.016%	$69.9M	$122.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4409	+0.039%	$17.1M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4401	−0.152%	$73K	$86K	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	0.4416	+0.190%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4409	+0.039%	$11.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4409	+0.039%	$47.7M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4410	+0.062%	$12.9M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4409	+0.039%	$25.2M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4408	+0.016%	—	$762K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4410	+0.053%	$714K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4418	+0.232%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4411	+0.084%	$407K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4417	+0.220%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4417	+0.225%	$67K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4417	+0.220%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	+0.039%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4424	+0.379%	$130K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4416	+0.198%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4418	+0.234%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4407	−0.004%	$398K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4410	+0.068%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4416	+0.209%	$38.3M	$24.3M	10x	as long as short
Backpack ONDO_USDC_PERPshort	+0.0185%	1h	0.4418	+0.241%	$192K	$979K	15x
Aster ONDOUSDT	+0.0190%	4h	0.4415	+0.177%	$711K	$2.3M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4409	+0.039%	$23K	$349K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4427	+0.438%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4415	+0.175%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4420	+0.293%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.334%	$281K	$727K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4406	−0.035%	$487K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4425	+0.391%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4413	+0.125%	$2K	—	20x	as long as short