ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0227%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h +0.013%

Price spread now: Phoenix against Nado+0.188%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Nado Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.188%, 7d avg +0.085%

Together, before fees−0.161%+ Points / potential airdropNado: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.104% dearer against Nado than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.085%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.001% in total (about -0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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	Nado ONDO-PERP	0.4359	0.0100	pay 0.0012% / 1h	21m 28s	$360K	$840K	10x
Short	Phoenix ONDO	0.4368	0.0327	get 0.0041% / 1h	21m 28s	$35K	$218K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Nado. 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 NadobpFee PhoenixbpOrdersPrice spread, now +0.188%Rate

Funding earned: $47.65
Price spread: +0.188% → +0.085%: $10.36
Slippage, 4 orders: −$28.62
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $15.39
Costs to cover: 0.426%
Break-even: 4.7 days

Slippage from Nado: live order book, 32 min ago; Phoenix: live order book, 26 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 Nado live order book, 32 min ago	1.02 bp	7.7 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Phoenix live order book, 26 min ago	0.91 bp	12.6 bp −$13	43.8 bp −$438	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	−0.0161%	1h	0.4350	−0.214%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	−0.175%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.783%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4362	+0.048%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4352	−0.172%	$23K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4359	long leg	$360K	$840K	10x
Binance ONDOUSDT	+0.0100%	4h	0.4361	+0.042%	$63.0M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4358	−0.034%	$67.7M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4360	+0.011%	$17.0M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	+0.087%	$72K	$83K	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	0.4359	−0.012%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4357	−0.057%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4360	+0.011%	$43.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4357	−0.057%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4361	+0.034%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4359	−0.011%	—	$759K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4352	−0.165%	$183K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	+0.096%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4354	−0.124%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4364	+0.094%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4353	−0.149%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4359	−0.009%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	−0.149%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4353	−0.149%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4361	+0.034%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4354	−0.126%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4360	+0.002%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4359	−0.005%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4354	−0.126%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0155%	4h	0.4360	+0.008%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4360	+0.021%	$359	$2K	10x	as long as short
Hyperliquid ONDO	+0.0190%	1h	0.4363	+0.069%	$37.4M	$24.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	+0.195%	$248K	$725K	50x	as long as short
dYdX ONDO-USD	+0.0325%	1h	0.4359	−0.007%	$247K	$129K	5x	as long as short
Phoenix ONDOshort	+0.0327%	1h	0.4368	+0.188%	$35K	$218K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4357	−0.057%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4355	−0.103%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4351	−0.190%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4360	+0.004%	$2K	—	20x	as long as short