ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.9509%/8h= −1041.2% APRnext payment −$11.89 per $10,000 · paid last 24h −1.607%

Price spread now: Extended against dYdX−0.118%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$409as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1581.585% of the position

Long on dYdX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−2.502%−$250 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.118%, 7d avg −0.034%

Together, before fees−2.492%+ Points / potential airdropExtended: Active · farm board−$249 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$285 a day on $10k at the current rate, and Extended is 0.085% cheaper against dYdX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.502% in total (about -130.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$11.89 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	dYdX ONDO-USD	0.4529	0.9613	pay 0.1202% / 1h	30m 54s	$256K	$123K	5x
Short	Extended ONDO-USD	0.4524	0.0104	get 0.0013% / 1h	30m 54s	$403K	$980K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against dYdX. 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 dYdXbpFee ExtendedbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$1,996.8
Price spread: −0.118% → −0.034%: −$8.45
Slippage, 4 orders: −$143.46
Fee dYdX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$2,163.71
Costs to cover: 1.585%
Break-even: never at this rate

Slippage from dYdX: live order book, 58 min ago; Extended: live order book, 42 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 dYdX live order book, 58 min ago	27.35 bp	32.4 bp −$32	32.4 bp −$324	91.9 bp −$9,194	365.9 bp −$182.9K
Sell Extended live order book, 42 min ago	4.47 bp	7.0 bp −$7	16.4 bp −$164	doesn't fit	doesn't fit

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	−0.1124%	1h	0.4525	−0.089%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4525	−0.096%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4525	−0.107%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4531	+0.032%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.162%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4523	−0.140%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4528	−0.018%	$426K	$677K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4527	−0.052%	$760K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4524	−0.118%	$66.6M	$220.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4523	−0.140%	$73.5M	$117.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4521	−0.184%	$17.7M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4531	+0.032%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4528	−0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4523	−0.140%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4523	−0.140%	$47.7M	$45.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4524	−0.118%	$13.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4523	−0.140%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4524	−0.118%	—	$746K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4526	−0.074%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4528	−0.022%	$791K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4531	+0.041%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4535	+0.118%	$418K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4533	+0.081%	$160K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4531	+0.035%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4530	+0.015%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4524	−0.118%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4534	+0.103%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4524	−0.118%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4527	−0.045%	$6K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4524	−0.118%	$403K	$980K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4527	−0.052%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0209%	1h	0.4528	−0.023%	$40.8M	$27.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	+0.103%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4526	−0.074%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4532	+0.070%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0528%	1h	0.4529	−0.001%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4525	−0.086%	$563K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4530	+0.010%	$2K	—	20x	as long as short
dYdX ONDO-USDlong	+0.9613%	1h	0.4529	long leg	$256K	$123K	5x