ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0702%/8h= −76.9% APRnext payment −$0.88 per $10,000 · paid last 24h −1.514%

Price spread now: Hyperliquid against dYdX+0.190%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$396as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1731.731% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−2.230%−$223 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.190%, 7d avg +0.117%

Together, before fees−2.235%+ Points / potential airdropHyperliquid: Season 2 · farm board−$223 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.073% dearer against dYdX than usual: you sell high and buy low (spread +0.190% now, against its 7-day average of +0.117%): +$7 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4530	0.1392	pay 0.0174% / 1h	55m 12s	$256K	$130K	5x
Short	Hyperliquid ONDO	0.4539	0.0689	get 0.0086% / 1h	55m 12s	$40.6M	$27.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.190%Rate

Funding earned: −$147.52
Price spread: +0.190% → +0.117%: $7.31
Slippage, 4 orders: −$154.07
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$313.27
Costs to cover: 1.731%
Break-even: never at this rate

Slippage from dYdX: live order book, 29 min ago; Hyperliquid: live order book, 8 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, 29 min ago	27.19 bp	32.2 bp −$32	32.2 bp −$322	105.6 bp −$10.6K	741.0 bp −$370.5K
Sell Hyperliquid live order book, 8 min ago	1.00 bp	8.2 bp −$8	doesn't fit	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	−0.0355%	1h	0.4530	−0.006%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4535	+0.104%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4532	+0.046%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4524	−0.132%	$29K	$219K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4532	+0.038%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4536	+0.137%	$426K	$682K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4535	+0.104%	$763K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4534	+0.082%	$66.8M	$220.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4533	+0.060%	$73.5M	$118.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4533	+0.060%	$17.7M	$80.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4515	−0.329%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4534	+0.091%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4532	+0.038%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4533	+0.060%	$48.0M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4533	+0.060%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4535	+0.104%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4533	+0.060%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4531	+0.015%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4531	+0.018%	$793K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4510	−0.455%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4525	−0.118%	$427K	$937K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.143%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	+0.126%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4534	+0.082%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4540	+0.214%	$130K	$510K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4531	+0.015%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4535	+0.094%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4533	+0.055%	$403K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4536	+0.126%	$44K	$8K	3x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.603%	$1K	$181K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4538	+0.170%	$300K	$847K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4533	+0.060%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4540	+0.210%	$374	$2K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0387%	1h	0.4526	−0.095%	$160K	$333K	50x	as long as short
Lighter ONDO	+0.0552%	1h	0.4542	+0.254%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0191%	1h	0.4533	+0.049%	$546K	—	100x	as long as short
Hyperliquid ONDOshort	+0.0689%	1h	0.4539	+0.190%	$40.6M	$27.7M	10x
Reya ONDORUSDPERP	+0.1140%	1h	0.4537	+0.140%	$2K	—	20x	as long as short
dYdX ONDO-USDlong	+0.1392%	1h	0.4530	long leg	$256K	$130K	5x