ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2897%/8h= +317.3% APRnext payment +$3.62 per $10,000 · paid last 24h +1.133%

Price spread now: dYdX against Coinbase International−0.256%7-day average −0.232% · you buy dearer than you sell

Net, funding: paid 7d − costs+$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1221.224% of the position

Long on Coinbase International Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.992%+$199 on $10k

Price spread, last 4 days (all we have)+0.612%+$61 · spread now −0.256%, 7d avg −0.232%

Together, before fees+2.604%+$260 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.023% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.256% now, against its 7-day average of −0.232%). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$87 a day). At the pace of the last 7 days (+1.992% in total) that is about 2 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.992% in total (about 103.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4382	0.0256	pay 0.0032% / 1h	15m 23s	$216K	$716K	50x
Short	dYdX ONDO-USD	0.4371	0.3153	get 0.0394% / 1h	15m 23s	$250K	$159K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee dYdXbpOrdersPrice spread, now −0.256%Rate

Funding earned: $608.45
Price spread: −0.256% → −0.232%: −$2.31
Slippage, 4 orders: −$102.38
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $483.76
Costs to cover: 1.224%
Break-even: 1.4 days

Slippage from Coinbase International: live order book, 18 min ago; dYdX: live order book, 19 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 18 min ago	13.90 bp	34.6 bp −$35	75.5 bp −$755	doesn't fit	doesn't fit
Sell dYdX live order book, 19 min ago	14.91 bp	46.9 bp −$47	175.5 bp −$1,755	249.4 bp −$24.9K	480.2 bp −$240.1K

ONDO on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ONDOUSD	−0.0175%	1h	0.4374	−0.184%	$2.5M	$7.6M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4369	−0.301%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.245%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4379	−0.078%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4369	−0.297%	$342K	$886K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4372	−0.228%	$766K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4371	−0.258%	$63.7M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4367	−0.342%	$68.4M	$120.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4370	−0.274%	$17.4M	$70.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4378	−0.098%	$72K	$79K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4370	−0.283%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4370	−0.274%	$13.5M	$15.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4369	−0.297%	$43.9M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4369	−0.297%	$12.3M	$10.2M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4369	−0.297%	$25.2M	$35.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4369	−0.297%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4375	−0.148%	$182K	$998K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4371	−0.254%	$741K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4365	−0.395%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4361	−0.479%	$412K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4365	−0.388%	$135K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4369	−0.308%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4369	−0.297%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4373	−0.205%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4374	−0.183%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4380	−0.046%	$132K	$368K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4374	−0.183%	$4.3M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4371	−0.251%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4368	−0.311%	$363K	$819K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4373	−0.217%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0256%	1h	0.4382	long leg	$216K	$716K	50x
01 Exchange ONDOUSD	+0.0272%	1h	0.4372	−0.235%	$360	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4366	−0.370%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	−0.365%	$3.2M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0436%	1h	0.4376	−0.137%	$29K	$360K	25x	as long as short
Hyperliquid ONDO	+0.0453%	1h	0.4373	−0.199%	$36.8M	$27.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4366	−0.354%	$505K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4369	−0.301%	$2K	—	20x	as long as short
dYdX ONDO-USDshort	+0.3153%	1h	0.4371	−0.256%	$250K	$159K	5x