ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0316%/8h= +34.6% APRnext payment +$0.39 per $10,000 · paid last 24h −1.328%

Price spread now: Hyperliquid against dYdX+0.166%7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$352as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1111.114% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−2.407%−$241 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.166%, 7d avg +0.115%

Together, before fees−2.388%+ Points / potential airdropHyperliquid: Season 2 · farm board−$239 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.051% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.115%. Mind the row above: over the last 7 days funding on this pair cost −2.407%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4396	0	get 0.0000% / 1h	53m 32s	$249K	$129K	5x
Short	Hyperliquid ONDO	0.4404	0.0316	get 0.0039% / 1h	53m 32s	$37.9M	$24.6M	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 +0.166%Rate

Funding earned: $66.32
Price spread: +0.166% → +0.115%: $5.1
Slippage, 4 orders: −$92.43
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$40
Costs to cover: 1.114%
Break-even: 11.2 days

Slippage from dYdX: live order book, 1 min ago; Hyperliquid: live order book, 10 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, 1 min ago	18.13 bp	29.0 bp −$29	113.0 bp −$1,130	165.2 bp −$16.5K	653.9 bp −$326.9K
Sell Hyperliquid live order book, 10 min ago	0.11 bp	6.1 bp −$6	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	−0.0159%	1h	0.4392	−0.094%	$2.6M	$7.8M	50x	as long as short
dYdX ONDO-USDlong	0.0000%	1h	0.4396	long leg	$249K	$129K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4396	−0.009%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.908%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4404	+0.173%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4394	−0.050%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4410	+0.302%	$364K	$847K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4406	+0.227%	$63.7M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4405	+0.200%	$68.4M	$126.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	+0.314%	$17.2M	$73.6M	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	0.4391	−0.109%	$73K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4404	+0.172%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4397	+0.018%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4402	+0.132%	$44.3M	$41.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4398	+0.041%	$12.7M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4403	+0.154%	$25.3M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4400	+0.086%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4392	−0.087%	$185K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	−0.147%	$716K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4399	+0.064%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4391	−0.110%	$414K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4398	+0.041%	$136K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4399	+0.066%	$69K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4397	+0.018%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4395	−0.027%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4413	+0.382%	$130K	$434K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	−0.073%	$4.3M	$7.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4402	+0.132%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4403	+0.143%	$397K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	−0.016%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4404	+0.184%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0205%	1h	0.4395	−0.027%	$18K	$367K	25x	as long as short
Aster ONDOUSDT	+0.0230%	4h	0.4402	+0.133%	$762K	$2.5M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4406	+0.223%	$272K	$732K	50x	as long as short
Hyperliquid ONDOshort	+0.0316%	1h	0.4404	+0.166%	$37.9M	$24.6M	10x
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.223%	$3.1M	$3.1M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4398	+0.032%	$35K	$218K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4394	−0.055%	$522K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1153%	1h	0.4396	0.000%	$2K	—	20x	as long as short