ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0632%/8h= +69.2% APRnext payment +$0.79 per $10,000 · paid last 24h −0.057%

Price spread now: Deribit against Kraken Futures+0.160%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$610.612% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.280%−$28 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.160%, 7d avg −0.049%

Together, before fees−0.453%−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Deribit is 0.209% dearer against Kraken Futures than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.049%. Mind the row above: over the last 7 days funding on this pair cost −0.280%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.280% in total (about -15.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.79 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	0.4370	0.0033	pay 0.0004% / 1h	40m 20s	$2.6M	$7.9M	50x
Short	Deribit ONDO_USDC-PERPETUAL	0.4377	0.0665	get 0.0083% / 1h	40m 20s	$23K	$346K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.160%Rate

Funding earned: $132.67
Price spread: +0.160% → −0.049%: $20.87
Slippage, 4 orders: −$44.19
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $92.35
Costs to cover: 0.612%
Break-even: 2.1 days

Slippage from Kraken Futures: live order book, 4 min ago; Deribit: live order book, 18 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	4.57 bp	17.5 bp −$17	23.6 bp −$236	doesn't fit	doesn't fit
Sell Deribit live order book, 18 min ago	9.14 bp	12.6 bp −$13	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4372	+0.048%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0033%	1h	0.4370	long leg	$2.6M	$7.9M	50x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.530%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4374	+0.091%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4376	+0.148%	$370K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4380	+0.217%	$37.6M	$24.6M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4375	+0.114%	$63.1M	$229.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4373	+0.068%	$69.1M	$124.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4374	+0.091%	$17.0M	$72.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4381	+0.249%	$72K	$84K	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	0.4377	+0.165%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4375	+0.114%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4377	+0.160%	$45.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4376	+0.137%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4375	+0.114%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4375	+0.114%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4375	+0.119%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	−0.030%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.176%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.134%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	+0.137%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4378	+0.174%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4380	+0.228%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4372	+0.045%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4383	+0.297%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4370	0.000%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4378	+0.181%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4373	+0.077%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4377	+0.160%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0112%	1h	0.4372	+0.048%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0213%	4h	0.4378	+0.183%	$743K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4381	+0.256%	$361	$2K	10x	as long as short
dYdX ONDO-USD	+0.0228%	1h	0.4378	+0.182%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.549%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	+0.160%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.080%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4373	+0.070%	$520K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUALshort	+0.0665%	1h	0.4377	+0.160%	$23K	$346K	25x
Reya ONDORUSDPERP	+0.1151%	1h	0.4376	+0.141%	$2K	—	20x	as long as short