ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1159%/8h= +126.9% APRnext payment +$1.45 per $10,000 · paid last 24h +0.002%

Price spread now: Coinbase International against Kraken Futures+0.288%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$760.763% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.475%+$47 on $10k

Price spread, last 3 days (all we have)−0.112%−$11 · spread now +0.288%, 7d avg +0.155%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$35 a day on $10k at the current rate, and Coinbase International is 0.133% dearer against Kraken Futures than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.155%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.475% in total (about 24.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.45 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	Kraken Futures PF_ONDOUSD	0.4542	−0.0879	get 0.0110% / 1h	48m 52s	$2.7M	$8.0M	50x
Short	Coinbase International ONDO-PERP-INTX	0.4555	0.0280	get 0.0035% / 1h	48m 52s	$297K	$817K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.288%Rate

Funding earned: $243.46
Price spread: +0.288% → +0.155%: $13.32
Slippage, 4 orders: −$56.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $180.51
Costs to cover: 0.763%
Break-even: 1.8 days

Slippage from Kraken Futures: live order book, 5 min ago; Coinbase International: live order book, 24 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, 5 min ago	5.50 bp	12.3 bp −$12	19.6 bp −$196	doesn't fit	doesn't fit
Sell Coinbase International live order book, 24 min ago	8.77 bp	13.8 bp −$14	41.9 bp −$419	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_ONDOUSDlong	−0.0879%	1h	0.4542	long leg	$2.7M	$8.0M	50x
Gate ONDO_USDT	−0.0056%	4h	0.4543	+0.024%	$11.9M	$16.5M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4550	+0.183%	$257K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4543	+0.024%	$33K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4543	+0.026%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.574%	$888	$216K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0048%	1h	0.4541	−0.020%	$173K	$326K	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4542	+0.002%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4547	+0.123%	$437K	$702K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4551	+0.198%	$40.2M	$26.0M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4548	+0.134%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4546	+0.080%	$68.0M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4545	+0.068%	$73.4M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4545	+0.068%	$17.5M	$79.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4555	+0.292%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4552	+0.226%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4544	+0.046%	$48.5M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4545	+0.068%	$14.1M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4546	+0.090%	$25.7M	$40.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4545	+0.068%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4546	+0.098%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4542	−0.003%	$808K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4549	+0.145%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4553	+0.241%	$429K	$960K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4552	+0.231%	$69K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4545	+0.068%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4544	+0.046%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4554	+0.266%	$133K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4543	+0.024%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4551	+0.199%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4544	+0.047%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4545	+0.068%	$39K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4556	+0.310%	$375	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4558	+0.349%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4555	+0.288%	$297K	$817K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4545	+0.068%	$3.3M	$3.2M	75x	as long as short
Lighter ONDO	+0.0464%	1h	0.4550	+0.180%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4543	+0.026%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4547	+0.118%	$2K	—	20x	as long as short