ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0440%/8h= −48.2% APRnext payment −$0.55 per $10,000 · paid last 24h +1.284%

Price spread now: dYdX against Deribit−0.179%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs+$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1051.051% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.720%+$272 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.179%, 7d avg −0.029%

Together, before fees+2.872%+$287 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and dYdX is 0.150% cheaper against Deribit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.720%, 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	Deribit ONDO_USDC-PERPETUAL	0.4322	0.0445	pay 0.0056% / 1h	29m 51s	$18K	$362K	25x
Short	dYdX ONDO-USD	0.4314	0.0005	get 0.0001% / 1h	29m 51s	$242K	$141K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Deribit. 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 DeribitbpFee dYdXbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$92.45
Price spread: −0.179% → −0.029%: −$14.95
Slippage, 4 orders: −$88.08
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$212.48
Costs to cover: 1.051%
Break-even: never at this rate

Slippage from Deribit: live order book, 14 min ago; dYdX: live order book, 14 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 Deribit live order book, 14 min ago	6.92 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 14 min ago	33.44 bp	45.8 bp −$46	150.4 bp −$1,504	213.1 bp −$21.3K	716.4 bp −$358.2K

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	−0.0147%	1h	0.4318	−0.087%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4313	−0.209%	$7K	—	150x	as long as short
dYdX ONDO-USDshort	+0.0005%	1h	0.4314	−0.179%	$242K	$141K	5x
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.692%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4322	+0.007%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4314	−0.185%	$346K	$897K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4322	0.000%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4322	0.000%	$62.5M	$236.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4321	−0.023%	$67.6M	$124.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4322	0.000%	$17.2M	$72.6M	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	0.4306	−0.368%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4314	−0.185%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4319	−0.069%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4321	−0.023%	$42.9M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4318	−0.093%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4321	−0.023%	$24.7M	$39.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4322	0.000%	—	$23.4M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	−0.049%	$171K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.214%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.134%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4316	−0.138%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	−0.116%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	−0.102%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.069%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4316	−0.139%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4320	−0.046%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4324	+0.046%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	−0.046%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4315	−0.169%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4319	−0.070%	$391K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4321	−0.012%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0107%	1h	0.4323	+0.014%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4317	−0.116%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.116%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4316	−0.137%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	−0.139%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUALlong	+0.0445%	1h	0.4322	long leg	$18K	$362K	25x
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	−0.219%	$485K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4319	−0.075%	$2K	—	20x	as long as short