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At a glance
- What changed
- Weekly USDC rewards rise from 220,000 to 250,000 USDC, and the rotating activity pool now pays for open interest.
- Who it affects
- Eligible Ondo Perps traders, whether they quote on the book, trade volume or simply hold open perps positions.
- When
- This week runs from 3 November 00:00 UTC to 9 November 23:59 UTC; rewards are paid within 48 hours of the week's close.
250,000 USDC a week across three bigger pools
Ondo Perps said on its official X account on 4 November 2026 that it has increased the size of each of its three weekly USDC rewards pools. Added together, the Liquidity, Volume and Trading Activity pools now pay 250,000 USDC a week, up from the 220,000 USDC a week the program launched with on 27 October, as we reported at the time.
The current reward week started on Tuesday 3 November at 00:00 UTC and runs to Monday 9 November at 23:59 UTC. Because the pools are separate, one trader can earn from more than one of them in the same week.
Open interest is this week's featured activity
The biggest change is to the Trading Activity pool, which rotates its focus from week to week. Ondo says that, due to popular demand, this week it rewards open interest across all perps on the platform. Open interest is the value of positions that are still open, so this pool pays for holding positions rather than for trading in and out of them. The pool grows from 20,000 to 25,000 USDC.
Traders who had already traded OpenAI exposure this week, either OPAIPon on spot or the OPENAI perp, are not left out: Ondo says they will receive an additional pro rata bonus for that OpenAI spot and perp activity up to 4 November at 19:00 UTC, the moment the change was announced. Ondo has not published how this bonus is sized.
Liquidity and volume pools: 112,500 USDC each
The Liquidity Pool rises from 100,000 to 112,500 USDC a week, with the same rules as before. It rewards resting limit orders placed within 25 basis points (0.25%) of the mid price on eligible markets, with 85% of the pool going to liquidity from the mid out to 5 bps, 10% to 6 to 10 bps and 5% to 11 to 25 bps.
This week's eligible markets are the stocks NVDA, TSLA, META, AMD, INTC, MU, SNDK, COIN, MSTR, CRCL and SPCX, the US 500 and US 100 indices, the DRAM and SOXL ETFs, gold, silver and WTI oil, and BTC and ETH, the same 20 markets as last week.
The Volume Pool also rises from 100,000 to 112,500 USDC a week and still counts maker and taker trading on any perps market. Ondo has not published a per-trader formula for any of the pools.
Payouts and who can take part
Rewards are paid in USDC directly to the Ondo Perps trading account within 48 hours of each week's close, so this week's rewards are due by 11 November if paid on schedule.
The disclaimer Ondo attached to the announcement says the platform is not available to persons located in, incorporated in or operating from Panama, the US, the European Union, the United Kingdom or Canada, or to sanctioned persons, and that other restrictions apply. Perpetual futures are leveraged products: holding positions to earn the open-interest reward also means carrying their risk, and losses can exceed any reward.
Where to keep the USDC you earn
The rewards land in your Ondo Perps trading account, where they can be used as trading funds. If you would rather move some USDC to a wallet you control yourself, two self-custody options fit well. The Base app at base.app is Coinbase's own self-custody wallet app, and Phantom, covered in the box below, is a self-custody wallet that works across several blockchains. Whichever you choose, check that the network you withdraw on is one the wallet supports for USDC before sending.
Dates to know
As announced by the provider. A listed date does not confirm current availability or eligibility.
- Reward week opens (00:00 UTC)Date passed
- OpenAI pro rata bonus activity window ends (19:00 UTC)Today (UTC)
- Reward week closes (23:59 UTC)Upcoming date
PhantomPartner offer
10% of trading fees back for 3 months
Phantom referral code: findcodes. Sign up with this code to get 10% of trading fees back for 3 months.
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Conditions
New users who sign up in the Phantom mobile app with this code get 10% of their own eligible trading fees back for three months from signup. Codes apply only at mobile-app signup and cannot be added later. Rebates are paid in CASH to the Phantom Cash balance after a $1 minimum; ID verification may be required. Perps and prediction markets are not available in every region; program terms apply and Phantom may change rates or end the program. Perps are unavailable in the US, UK and US-sanctioned jurisdictions; prediction markets are unavailable in the US, UK, Germany and sanctioned jurisdictions. Program eligibility depends on jurisdiction under the referral terms.
The code and partner link have no expiry. Campaign dates, benefits and eligibility are separate and may change. Check the provider’s current terms before signing up.
