ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0338%/8h= −37.0% APRnext payment −$0.42 per $10,000 · paid last 24h +1.610%

Price spread now: dYdX against Phoenix−0.515%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$365as in the Price arb table

costs, in and out, $10k−$3233.234% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.807%+$281 on $10k

Price spread, last 4 days (all we have)−0.384%−$38 · spread now −0.515%, 7d avg −0.098%

Together, before fees+2.423%+$242 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and dYdX is 0.416% cheaper against Phoenix than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.098%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.807%, 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	Phoenix ONDO	0.4425	0.0338	pay 0.0042% / 1h	19m 06s	$35K	$231K	10x
Short	dYdX ONDO-USD	0.4402	0	get 0.0000% / 1h	19m 06s	$249K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phoenix. 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 PhoenixbpFee dYdXbpOrdersPrice spread, now −0.515%Rate

Funding earned: −$71.01
Price spread: −0.515% → −0.098%: −$41.63
Slippage, 4 orders: −$306.44
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$436.08
Costs to cover: 3.234%
Break-even: never at this rate

Slippage from Phoenix: live order book, 44 min ago; dYdX: live order book, 50 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 Phoenix live order book, 44 min ago	1.10 bp	12.6 bp −$13	51.3 bp −$513	doesn't fit	doesn't fit
Sell dYdX live order book, 50 min ago	130.76 bp	162.4 bp −$162	318.4 bp −$3,184	944.8 bp −$94.5K	1836.8 bp −$918.4K

ONDO on 38 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	−0.0362%	1h	0.4407	−0.409%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4402	−0.515%	$249K	$130K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	−0.457%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.227%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4406	−0.434%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4407	−0.411%	$386K	$858K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4409	−0.369%	$673K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4415	−0.238%	$64.0M	$231.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4414	−0.253%	$70.0M	$125.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4413	−0.276%	$17.0M	$75.6M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4418	−0.160%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4405	−0.462%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4408	−0.389%	$11.6M	$16.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4408	−0.389%	$45.6M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4408	−0.389%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4415	−0.230%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4413	−0.276%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	−0.215%	$769K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4417	−0.176%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	−0.151%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4418	−0.163%	$136K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4409	−0.366%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4406	−0.434%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4410	−0.343%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4412	−0.298%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4406	−0.443%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4409	−0.370%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4411	−0.312%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0135%	1h	0.4415	−0.235%	$202K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4408	−0.389%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0284%	1h	0.4415	−0.228%	$38.9M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	−0.072%	$284K	$745K	50x	as long as short
Phoenix ONDOlong	+0.0338%	1h	0.4425	long leg	$35K	$231K	10x
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	−0.348%	$363	$2K	10x	as long as short
Phemex ONDOUSDT	+0.0526%	4h	0.4410	−0.343%	$4.2M	$7.4M	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4404	−0.482%	$486K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4416	−0.215%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4410	−0.339%	$2K	—	20x	as long as short