ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0244%/8h= −26.7% APRnext payment −$0.31 per $10,000 · paid last 24h −0.215%

Price spread now: Injective against Phoenix+4.278%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.358%−$336 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 4.278% dearer against Phoenix than usual: you sell high and buy low (spread +4.278% now, against zero (this spread has no 7-day history yet)): +$428 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 58 days. At the pace of the last 7 days (−3.358% in total) that is about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ONDO	0.4381	0.0277	pay 0.0035% / 1h	58m 13s	$35K	$214K	10x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	58m 13s	$888	$215K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +4.278%Rate

Funding earned: −$51.24
Price spread: +4.278% → 0.000%: $427.8
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $369.53
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 29 min ago; Injective: no order-book sample. Net counts fees only.

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, 29 min ago	0.93 bp	12.6 bp −$13	51.4 bp −$514	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4365	−0.356%	$24K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	−0.042%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4361	−0.456%	$2.5M	$7.4M	50x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+4.278%	$888	$215K	5.5x
Lighter ONDO	+0.0096%	1h	0.4366	−0.322%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4367	−0.305%	$342K	$873K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4369	−0.256%	$36.7M	$27.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4364	−0.379%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4361	−0.447%	$63.7M	$228.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4356	−0.562%	$68.5M	$120.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4360	−0.470%	$17.4M	$70.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4381	+0.007%	$72K	$77K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4368	−0.295%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4366	−0.333%	$13.6M	$14.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4366	−0.333%	$44.2M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4367	−0.310%	$13.0M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4365	−0.356%	$25.4M	$35.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4366	−0.333%	—	$22.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4373	−0.176%	$185K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4372	−0.203%	$776K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4377	−0.077%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	−0.059%	$403K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4380	−0.014%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4369	−0.260%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4363	−0.402%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4365	−0.356%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4362	−0.425%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4377	−0.082%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4360	−0.470%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4367	−0.318%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4364	−0.383%	$363K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4366	−0.322%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0112%	1h	0.4369	−0.263%	$360	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4363	−0.402%	$216K	$707K	50x	as long as short
Phoenix ONDOlong	+0.0277%	1h	0.4381	long leg	$35K	$214K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4378	−0.059%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4376	−0.101%	$506K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4371	−0.228%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4349%	1h	0.4370	−0.251%	$250K	$160K	5x	as long as short