ONDO Perpetual Futures

The open-interest-weighted ONDO funding rate is +0.0040% per 8 hours, or +4.38% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0448% on Crypto.com to +0.0100% on Hyperliquid. Compare all funding rates.

ONDO perpetual open interest is $290.51M (712.13M ONDO), down 0.41% in 24 hours. Bybit holds the most at $52.03M. That is 14.63% of Ondo's market cap.

Ondo Finance is a company and protocol that issues tokenised real-world assets on public blockchains. Its products include tokens backed by short-term US Treasuries and a platform for tokenised US stocks and ETFs. ONDO is the governance token tied to the Ondo ecosystem.

Ondo perps traded $126.39M in the last 24 hours, -37.20% on the day before. Binance leads with 31%, followed by OKX ($18.02M) and Bybit ($15.42M).

Over the last 24 hours 47.1% of accounts are long and 52.9% short, a long/short ratio of 0.89. See the long/short ratio by exchange.

No. The yield from Ondo's Treasury-backed products goes to holders of those products, such as USDY and OUSG. ONDO is a governance token, so its price depends on demand for the token and expectations for Ondo's growth.

ONDO tends to trade on the real-world asset narrative. Partnerships with traditional finance firms, growth in tokenised Treasury and stock products, and US policy on tokenisation all feed into it. Token unlocks matter too, because a large share of supply was locked at launch and is released on a set schedule.

$131.6K of ONDO positions were liquidated in 24 hours, $87.7K longs and $43.8K shorts. Binance saw the most at $84.7K. See liquidations across the market.

Unlocks add tokens that early investors and contributors can sell, which can weigh on spot. Traders often position ahead of a known unlock date, so open interest may rise beforehand. A funding rate turning negative around an unlock suggests shorts are crowding in.

ONDO perpetual futures are derivatives contracts that track the price of ONDO and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any ONDO.

Funding is a payment between longs and shorts. When ONDO perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

ONDO perps trade on 13 tracked exchanges. By volume the largest are Binance, OKX and Bybit. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.