ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0839%/8h= −91.8% APRnext payment −$1.05 per $10,000 · paid last 24h +1.321%

Price spread now: dYdX against Lighter−0.309%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs+$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2212.213% of the position

Long on Lighter Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.506%+$251 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now −0.309%, 7d avg −0.121%

Together, before fees+2.783%+ Points / potential airdropLighter: Season 3 · farm board+$278 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and dYdX is 0.188% cheaper against Lighter than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.121%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.506%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4429	0.0840	pay 0.0105% / 1h	26m 09s	$1.4M	$2.1M	10x
Short	dYdX ONDO-USD	0.4415	0.0001	get 0.0000% / 1h	26m 09s	$250K	$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 −0.309%Rate

Funding earned: −$176.09
Price spread: −0.309% → −0.121%: −$18.78
Slippage, 4 orders: −$211.26
Fee Lighter: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$416.14
Costs to cover: 2.213%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; dYdX: live order book, 38 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, 6 min ago	3.61 bp	13.6 bp −$14	29.2 bp −$292	doesn't fit	doesn't fit
Sell dYdX live order book, 38 min ago	83.09 bp	115.4 bp −$115	227.4 bp −$2,274	301.4 bp −$30.1K	626.7 bp −$313.3K

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
dYdX ONDO-USDshort	+0.0001%	1h	0.4415	−0.309%	$250K	$129K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4419	−0.231%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.143%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4421	−0.176%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4419	−0.221%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	−0.176%	$374K	$836K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4423	−0.131%	$64.1M	$225.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4421	−0.176%	$70.0M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4423	−0.131%	$17.1M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4415	−0.318%	$72K	$87K	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	0.4420	−0.189%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4420	−0.199%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4422	−0.154%	$46.9M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4419	−0.221%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4423	−0.131%	$25.2M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4422	−0.154%	—	$760K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4427	−0.050%	$717K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4424	−0.104%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4418	−0.244%	$414K	$992K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4427	−0.041%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4424	−0.108%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4423	−0.131%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4421	−0.176%	$460	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4430	+0.027%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4423	−0.131%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4421	−0.180%	$398K	$790K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4422	−0.142%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0106%	8h	0.4417	−0.276%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0159%	4h	0.4424	−0.115%	$713K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0181%	1h	0.4426	−0.063%	$38.4M	$24.5M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0205%	1h	0.4424	−0.106%	$192K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4433	+0.095%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4412	−0.379%	$3.1M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4424	−0.108%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4421	−0.176%	$284K	$706K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0429%	1h	0.4421	−0.176%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4418	−0.236%	$488K	—	100x	as long as short
Lighter ONDOlong	+0.0840%	1h	0.4429	long leg	$1.4M	$2.1M	10x
Reya ONDORUSDPERP	+0.1150%	1h	0.4422	−0.156%	$2K	—	20x	as long as short