ONDO / ETHFI ratio and spread
1 ONDO = 0.5416344 ETHFI. Below is the price ratio chart and the regression spread z-score. Hedge ratio β is 0.664 and the correlation between the legs is 0.64.
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Key numbers
over 350 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 together only moderately — correlation of daily log returns is 0.64, with a hedge ratio of 0.66. Signals from this pair carry more noise than on a tightly linked one.
The spread currently sits at -2.03 standard deviations from its rolling mean — ONDO is cheap relative to ETHFI by the standards of this window.
Reversion is slow: the spread needs roughly 46 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 near the bottom of its range — only 16% of the way from the low to the high of the last 350 daily candles.
Frequently asked
How many ETHFI is 1 ONDO?
1 ONDO is worth 0.541634 ETHFI at the latest exchange quotes. The figure is the ratio of the two USDT prices and updates every minute.
What is the ONDO/ETHFI range?
Over the last 350 daily candles the ratio traded between 0.409375 (21.03.2026) and 1.25852 (07.06.2026).
Are ONDO and ETHFI correlated?
The correlation of daily log returns between ONDO and ETHFI is 0.64, which counts as a moderate 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 ONDO/ETHFI spread z-score now?
The z-score is -2.03 — the spread is stretched beyond two standard deviations. It measures how far the regression residual log(A) − β·log(B) sits from its rolling mean, in standard deviations.
Is ONDO/ETHFI suitable for a pair trade?
The mechanics hold up: correlation is 0.64 and the spread historically covers half the way back to its mean in about 46 days. That is a description of past behaviour, not a forecast or a recommendation.
All figures are computed from exchange data and describe past behaviour. Nothing here is investment advice.