Funding Ondo Perps - Ondo Perps

Ondo Perps supports USDC and eligible Ondo tokenized stocks as collateral. USDC is supported on Ethereum and Arbitrum; Ondo tokenized stocks are currently supported on Ethereum only. You can also fund an Ondo Perps Spot account with supported Ondo Private Markets Notes, but they are not eligible as Perps collateral. Check the supported asset and network in the funding flow. See Private Markets. Tokenized Stock Collateral Eligible Ondo tokenized stocks are listed below. For readability, the interface displays a funded Ondo Stock’s value as an equivalent balance under the corresponding asset symbol, and calculates its collateral value using a reference price. The displayed balance is a UI representation; the underlying tokenized stock remains the asset held by the user. The underlying tokens remain unchanged and are returned as the same tokenized stock amount on withdrawal, subject to changes in the total collateral amount caused by trading activity. Haircuts and collateral caps below apply to collateral allocated to the user’s Perps balance. A haircut affects only how much of the displayed value contributes to margin; it does not reduce the quantity of underlying tokens. Withdrawal availability remains subject to margin requirements and other applicable restrictions. See Collateral Assets for details.

Asset used to fund	Balance shown in UI	Haircut	Collateral cap (displayed equivalent quantity)
USDC	USDC	0%	None
SPYon	SPY equivalent	10%	675
QQQon	QQQ equivalent	10%	700
NVDAon	NVDA equivalent	25%	2,290
GOOGLon	GOOGL equivalent	15%	1,485
TSLAon	TSLA equivalent	17%	1,445
MUon	MU equivalent	15%	520
SNDKon	SNDK equivalent	15%	320
DRAMon	DRAM equivalent	15%	8,735
SPCXon	SPCX equivalent	25%	3,595
CRCLon	CRCL equivalent	25%	6,350
SLVon	SLV equivalent	9%	9,800
GLDon	GLD equivalent	6.5%	1,360

The haircut is applied before the collateral cap. Each cap limits the equivalent quantity used to calculate margin after the haircut, rather than the quantity that can be funded. For example, with a 10% haircut and a cap of 675, a holding of 750 SPY equivalent reaches the cap: 750 × 90% = 675. Holdings above 750 SPY equivalent do not add margin under these settings. The displayed equivalent quantity is the funded token quantity multiplied by the asset’s applied S value. As S changes, the underlying token quantity needed to reach the cap changes. This calculation does not change the asset held. Haircuts and collateral caps apply to each underlying asset and may change. Withdrawal availability remains subject to margin requirements and other applicable restrictions, including for holdings that do not add margin. Funding Addresses Ondo Perps does not require users to interact with a smart-contract bridge when funding. You can provision a unique funding address for Ondo Perps. Supported assets sent to this address are reflected in your Ondo Perps balance. Pricing The interface uses the applicable reference price to calculate the displayed equivalent balance and collateral value. A per-asset haircut is applied to reflect price volatility, transaction costs, and weekend gap risk. Haircuts vary by asset and change only how much value contributes to margin. For example, a 10% haircut means 90% of the reference value counts toward margin before applying the collateral cap; no tokenized stock is deducted.