ONDO

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h +1.382%

Price spread now: dYdX against Phoenix−0.135%106s7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs+$165as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1141.144% of the position

Long on Phoenix Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.795%+$280 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now −0.135%, 7d avg −0.100%

Together, before fees+2.653%+$265 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.035% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.100%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.795%, so the current rate has only just turned against you. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ONDO	0.4382	0.0365	pay 0.0046% / 1h	15m 29s	$35K	$223K	10x
Short	dYdX ONDO-USD	0.4376	0.0269	get 0.0034% / 1h	15m 29s	$248K	$129K	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 −0.135%Rate

Funding earned: −$20.23
Price spread: −0.135% → −0.100%: −$3.51
Slippage, 4 orders: −$97.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$138.15
Costs to cover: 1.144%
Break-even: never at this rate

Slippage from Phoenix: live order book, 37 min ago; dYdX: live order book, 44 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, 37 min ago	0.91 bp	12.6 bp −$13	51.3 bp −$513	doesn't fit	doesn't fit
Sell dYdX live order book, 44 min ago	27.22 bp	55.0 bp −$55	174.6 bp −$1,746	253.4 bp −$25.3K	871.7 bp −$435.8K

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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4378	−0.110%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4377	−0.123%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.235%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4381	−0.039%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4377	−0.123%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4380	−0.055%	$362K	$854K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4382	−0.007%	$37.7M	$24.8M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4380	−0.045%	$63.3M	$231.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4377	−0.123%	$67.6M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4378	−0.100%	$17.0M	$73.0M	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	0.4385	+0.064%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4379	−0.083%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4377	−0.123%	$11.5M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4377	−0.123%	$44.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4376	−0.146%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4378	−0.100%	$25.1M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4376	−0.146%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4377	−0.114%	$186K	$983K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4377	−0.129%	$710K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	−0.077%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4381	−0.032%	$409K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	−0.146%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4380	−0.050%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4379	−0.078%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4380	−0.055%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4386	+0.082%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4378	−0.100%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4377	−0.120%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4377	−0.127%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	−0.021%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0208%	1h	0.4380	−0.052%	$360	$2K	10x	as long as short
Aster ONDOUSDT	+0.0217%	4h	0.4378	−0.104%	$757K	$2.5M	20x	as long as short
dYdX ONDO-USDshort	+0.0269%	1h	0.4376	−0.135%	$248K	$129K	5x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4379	−0.078%	$271K	$727K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4383	+0.014%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDOlong	+0.0365%	1h	0.4382	long leg	$35K	$223K	10x
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4381	−0.032%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4376	−0.140%	$520K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4380	−0.061%	$2K	—	20x	as long as short