ONDO Funding Rate — live across 19 venues

Compared across 19 supported venues · net of estimated fees · updated every few minutes

Live annualized ONDO perpetual funding across all 19 venues Perpia tracks. Right now ONDO funding is positive on 19 and negative on 0, ranging from +139.4% on dYdX to +2.1% on GMTrade — a spread of 137.3%. The widest delta-neutral trade is long GMTrade / short dYdX at 132.8% net APR.

venues

paying positive

137.3%

funding spread

Best ONDO spread now

132.8%

net APR after fees

Long GMTrade→Short dYdX

size depends on live venue depth — see the real cap in the scanner

ONDO funding trend & liquidity

168h of history

137.3%

current gross APR

29.2%

24h average

54.2%

7-day average

$140K

pair OI · lower leg

$40K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

ONDO funding rate history

30d · 6h buckets · 12 venues

164%0-55.9%

6 Aug5 Sep

ONDO — average across 12 venuesAsterBackPackExtendedHyperliquid

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +12.5%. A break in a line means no data was recorded for that stretch, not a zero rate.

ONDO funding rate by venue

51 pairs scanned

Venue	Funding APR	Interval
dYdX ↗	+139.4%	1h
Hyperliquid ↗	+58.7%	1h
Extended ↗	+11.4%	1h
MEXC ↗	+10.9%	4h
Nado ↗	+10.9%	24h
Variational ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Vest ↗	+10.9%	1h
OKX ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
BackPack ↗	+10.9%	1h
Bitget ↗	+10.9%	4h
Aster ↗	+10.9%	4h
BingX ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Ondo Perps	+10.9%	1h
Lighter ↗	+10.5%	8h
GMTrade ↗	+2.1%	1h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the GMTrade vs dYdX page.

ONDO arbitrage — 30-day backtest

long GMTrade · short dYdX

47.4%

backtested APR

+$390

historical net P&L on $10,000

0.01%

max drawdown

$10,000$10,390

30 days agostarting capital $10,000today

Over the last 30 days, holding long GMTrade / short dYdX would have produced 47.4% APR — versus the 132.8% the live spread implies right now (equity $10,000 → $10,390). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading ONDO backtest…

ONDO funding — FAQ

Is ONDO funding positive right now?

ONDO perpetual funding is positive on 19 of 19 venues Perpia tracks. The highest is +139.4% on dYdX; the lowest is +2.1% on GMTrade.

What is the best ONDO funding arbitrage right now?

Go long GMTrade and short dYdX for about 132.8% net APR after fees — the widest delta-neutral ONDO spread Perpia currently sees.

Which exchange has the highest ONDO funding rate?

dYdX, at +139.4% annualized. Funding shifts continuously, so check the live table above before trading.

How ONDO funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to ONDO

Markets also quoted on both dYdX and GMTrade — the same two exchanges you would already have funded for the ONDO trade.

See every spread between them on the dYdX vs GMTrade page.

Open the live scanner →All funding rates Funding by exchange How we calculate this