ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0140%/8h= −15.3% APRnext payment −$0.18 per $10,000 · paid last 24h −0.003%

Price spread now: Extended against Phoenix−0.278%88s7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as 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−$370.368% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 3 days (all we have)+0.132%+$13 · spread now −0.278%, 7d avg −0.120%

Together, before fees+0.249%+ Points / potential airdropExtended: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Extended is 0.158% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.120%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you. The two prices were read 88 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	Phoenix ONDO	0.4548	0.0244	pay 0.0031% / 1h	23m 52s	$38K	$257K	10x
Short	Extended ONDO-USD	0.4536	0.0104	get 0.0013% / 1h	23m 52s	$407K	$844K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phoenix. 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 PhoenixbpFee ExtendedbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$29.42
Price spread: −0.278% → −0.120%: −$15.78
Slippage, 4 orders: −$24.81
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$82.02
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Phoenix: live order book, 49 min ago; Extended: live order book, 54 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 Phoenix live order book, 49 min ago	1.09 bp	12.6 bp −$13	51.4 bp −$514	doesn't fit	doesn't fit
Sell Extended live order book, 54 min ago	2.17 bp	5.1 bp −$5	16.1 bp −$161	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	−0.0804%	1h	0.4534	−0.302%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.435%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4534	−0.312%	$35K	$437K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4536	−0.277%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4535	−0.290%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4537	−0.235%	$436K	$710K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4538	−0.224%	$720K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4537	−0.246%	$67.9M	$227.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4537	−0.246%	$73.6M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4536	−0.268%	$17.6M	$80.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4531	−0.378%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4536	−0.266%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4534	−0.312%	$11.9M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4537	−0.246%	$48.5M	$43.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4537	−0.246%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4535	−0.290%	$25.6M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4537	−0.246%	—	$742K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4537	−0.235%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−0.049%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4545	−0.069%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.070%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4546	−0.048%	$172K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4538	−0.233%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4535	−0.290%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4535	−0.290%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4545	−0.070%	$133K	$506K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4538	−0.224%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4538	−0.234%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4536	−0.278%	$407K	$844K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4537	−0.246%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0130%	1h	0.4540	−0.187%	$40.1M	$26.4M	10x	as long as short
Phoenix ONDOlong	+0.0244%	1h	0.4548	long leg	$38K	$257K	10x
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4545	−0.070%	$297K	$843K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4538	−0.213%	$374	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4547	−0.026%	$3.3M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4536	−0.277%	$541K	—	100x	as long as short
Lighter ONDO	+0.0744%	1h	0.4546	−0.055%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4535	−0.289%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3955%	1h	0.4544	−0.101%	$257K	$132K	5x	as long as short