ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.5738%/8h= +628.3% APRnext payment +$7.17 per $10,000 · paid last 24h +1.496%

Price spread now: dYdX against Lighter−0.209%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$396as in the Price arb table

costs, in and out, $10k−$3873.872% of the position

Long on Lighter Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.510%+$251 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.209%, 7d avg −0.117%

Together, before fees+2.613%+ Points / potential airdropLighter: Season 3 · farm board+$261 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.092% cheaper against Lighter than usual: you would sell low and buy high (spread −0.209% now, against its 7-day average of −0.117%). If the spread goes back, that is −$9 on $10k: about 1 hour of funding at the current rate (+$172 a day). At the pace of the last 7 days (+2.510% in total) that is about 6 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.510% in total (about 130.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$7.17 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	Lighter ONDO	0.4583	0.1032	pay 0.0129% / 1h	48m 53s	$1.5M	$2.3M	10x
Short	dYdX ONDO-USD	0.4574	0.6770	get 0.0846% / 1h	48m 53s	$259K	$129K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Lighter. 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 LighterbpFee dYdXbpOrdersPrice spread, now −0.209%Rate

Funding earned: $1,204.96
Price spread: −0.209% → −0.117%: −$9.2
Slippage, 4 orders: −$377.22
Fee Lighter: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $808.54
Costs to cover: 3.872%
Break-even: 2.3 days

Slippage from Lighter: live order book, 3 min ago; dYdX: live order book, 30 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 Lighter live order book, 3 min ago	3.59 bp	9.2 bp −$9	24.7 bp −$247	doesn't fit	doesn't fit
Sell dYdX live order book, 30 min ago	76.42 bp	291.5 bp −$291	475.3 bp −$4,753	494.4 bp −$49.4K	790.7 bp −$395.3K

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	−0.0798%	1h	0.4573	−0.228%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.332%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4572	−0.240%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4571	−0.266%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4575	−0.179%	$431K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4575	−0.180%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4574	−0.201%	$68.4M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4572	−0.244%	$74.2M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4571	−0.266%	$17.8M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4597	+0.299%	$75K	$89K	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	0.4571	−0.265%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4572	−0.244%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4574	−0.201%	$49.4M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4574	−0.201%	$13.8M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4573	−0.223%	$25.9M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4573	−0.223%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4587	+0.081%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4590	+0.145%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4590	+0.150%	$434K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4588	+0.105%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	−0.188%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4574	−0.201%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4571	−0.266%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4582	−0.026%	$133K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4573	−0.223%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4572	−0.245%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4574	−0.208%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4575	−0.190%	$44K	$8K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4571	−0.266%	$36K	$436K	25x	as long as short
Backpack ONDO_USDC_PERP	+0.0205%	1h	0.4574	−0.203%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	−0.103%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.345%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4576	−0.157%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0366%	1h	0.4577	−0.139%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0496%	1h	0.4577	−0.146%	$377	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4572	−0.254%	$546K	—	100x	as long as short
Lighter ONDOlong	+0.1032%	1h	0.4583	long leg	$1.5M	$2.3M	10x
Reya ONDORUSDPERP	+0.1142%	1h	0.4573	−0.215%	$2K	—	20x	as long as short
dYdX ONDO-USDshort	+0.6770%	1h	0.4574	−0.209%	$259K	$129K	5x