ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0181%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h +0.101%

Price spread now: Lighter against Phoenix+0.543%74s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$400.401% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.282%+$28 on $10k

Price spread, last 4 days (all we have)−0.903%−$90 · spread now +0.543%, 7d avg +0.024%

Together, before fees−0.621%+ Points / potential airdropLighter: Season 3 · farm board−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.519% dearer against Phoenix than usual: you sell high and buy low (spread +0.543% now, against its 7-day average of +0.024%): +$52 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 9.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.282%, so the current rate has only just turned against you. The two prices were read 74 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	0.4313	0.0277	pay 0.0035% / 1h	24m 08s	$35K	$218K	10x
Short	Lighter ONDO	0.4336	0.0096	get 0.0012% / 1h	24m 08s	$1.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.543%Rate

Funding earned: −$38.08
Price spread: +0.543% → +0.024%: $51.88
Slippage, 4 orders: −$33.1
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$26.31
Costs to cover: 0.401%
Break-even: from the start

Slippage from Phoenix: live order book, 3 min ago; Lighter: live order book, 3 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, 3 min ago	0.93 bp	12.6 bp −$13	51.4 bp −$514	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	3.83 bp	10.9 bp −$11	29.9 bp −$299	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	−0.0176%	1h	0.4331	+0.437%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4311	−0.039%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.925%	$888	$216K	5.5x	as long as short
Lighter ONDOshort	+0.0096%	1h	0.4336	+0.543%	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4325	+0.278%	$341K	$888K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4336	+0.549%	$762K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4337	+0.565%	$63.2M	$232.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4329	+0.383%	$67.7M	$121.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	+0.452%	$17.3M	$71.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4309	−0.083%	$71K	$79K	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	0.4325	+0.290%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4331	+0.429%	$13.3M	$15.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.429%	$44.2M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4332	+0.452%	$12.2M	$10.3M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4332	+0.452%	$25.1M	$36.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4331	+0.429%	—	$23.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4334	+0.506%	$180K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4300	−0.298%	$676K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4311	−0.035%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4311	−0.035%	$404K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	−0.058%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4326	+0.325%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4331	+0.429%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4333	+0.475%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	+0.475%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4333	+0.475%	$128K	$368K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4331	+0.429%	$4.2M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4318	+0.131%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4331	+0.437%	$359K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4334	+0.509%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4334	+0.499%	$28K	$360K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.638%	$214K	$717K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4329	+0.371%	$356	$2K	10x	as long as short
Phoenix ONDOlong	+0.0277%	1h	0.4313	long leg	$35K	$218K	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4310	−0.058%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0489%	1h	0.4335	+0.529%	$36.4M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0582% / S −0.0208%	1h	0.4329	+0.382%	$500K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4333	+0.469%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3526%	1h	0.4316	+0.085%	$247K	$159K	5x	as long as short