LINK / ONDO ratio and spread
1 LINK = 28.11 ONDO. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.587 and the correlation between the legs is 0.76.
If you hold LINK · If you hold ONDO
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Key numbers
over 568 daily candles
How each of these is computed: regression spread, hedge ratio, spread z-score, half-life, correlation.
What the numbers say
The legs move closely together — correlation of daily log returns is 0.76. The fitted hedge ratio is 0.59, meaning roughly 0.59 units of ONDO exposure balance one unit of LINK.
The spread is at 0.47 standard deviations from its rolling mean, which is effectively at its own norm.
Reversion is slow: the spread needs roughly 44 days to cover half the way back to its mean. A position would have to be held for a long time.
The current ratio sits mid-range — 60% of the way from the low to the high of the last 568 daily candles.
When this happened before
Divergences over 389 candles: 1. Closed by a return to the norm: 1. The median return took 95 days, the longest one 95 days.
The last closed one ran from 08.05.2026 to 11.08.2026, 95 days: peak z = -3.46, ONDO was expensive against LINK.
For a holder this answers not “what to do” but “how long it usually took”: the median return is 95 days. That is no guarantee — past divergences closed, this one may not.
| Period | Expensive leg | Peak z | Return |
|---|---|---|---|
| 08.05.2026 — 11.08.2026 | ONDO | -3.46 | 95 d |
A divergence here is the spread z-score leaving ±2σ; the return is the first value back inside ±0.5σ. Two thresholds rather than one: otherwise chatter right at the border would count as a dozen separate divergences. The first bars of the window are skipped — there z is computed on partial history.
Frequently asked
How many ONDO is 1 LINK?
1 LINK is worth 28.1068 ONDO at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the LINK/ONDO range?
Over the last 568 daily candles the ratio traded between 13.8904 (11.04.2025) and 37.5211 (19.01.2026).
Are LINK and ONDO correlated?
The correlation of daily log returns between LINK and ONDO is 0.76, which counts as a strong link. Log returns are used rather than prices: two rising assets correlate almost by default, joint day-to-day movement is what matters.
What is the LINK/ONDO spread z-score now?
The z-score is 0.47 — the spread is within its usual range. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is LINK/ONDO suitable for a pair trade?
The mechanics hold up: correlation is 0.76 and the spread historically covers half the way back to its mean in about 44 days. That is a description of past behaviour, not a forecast or a recommendation.
How often do LINK and ONDO diverge?
Over 389 daily candles the spread left ±2σ 1 times. The median return to the norm took 95 days.
Related pairs
Other pairs sharing a leg with this one.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.