Today, I still asked @ OndoFinance for an internal testing spot to evaluate their Ondo Perps. Previously, I didn't have a particularly good impression of Ondo due to the project team's mishandling of Ondo, but later I figured it out. As more and more opportunities arise in the US stock market, it is necessary to understand and familiarize oneself with every powerful supplier in the current market without bias, their products, and the various arbitrage opportunities that may exist. Ondo is also a professional player who has been specializing in stock RWA for a long time, and their strength is relatively strong. It is curious to see how they plan to get a share of this market. The correlation between Ondo coin price and fundamentals is not clear now, so let's not touch it for now. Originally, the market situation was also poor, so we should focus on usage first. After experiencing Ondo Perp, my first impression was that it was quite smooth, with a typical Perpdex interface that was very refreshing. There were no scrolling markers like Tradexyz, nor were there any obvious shortcomings or lagging experiences. He thought there was room for improvement in terms of the USDC deposit capital on his home main network, but later found that ETH, which has fallen to its current level, is not expensive anymore and the speed is acceptable Although the number of US stocks currently open for trading is limited (mainly large cap stocks) and the depth comparison with Tradexyz may be shallow, possibly due to the fact that it is still in beta. However, as expected, there is a significant difference in funding rates between ondo Perp and Tradexyz for some of their targets, such as MSTR, which costs -1%+on Ondo and -70% on Trade. This provides some room for improvement. What actually attracts me more is Ondo's previously announced support for tokenized stocks/ETFs/securities as margin, such as holding tokenized NVDA which allows for direct opening of leveraged TSLA positions, achieving cross asset cross collateralization without the need to sell and convert to USDC. Unfortunately, it hasn't been launched yet. I have submitted an application hoping to give it a try as soon as possible. This feature is quite valuable for users like me who are accustomed to long-term holdings, as it can greatly improve the utilization of funds, especially suitable for delta neutral, basis trade, and portfolio hedging strategies. Ondo Perps currently has certain advantages in transaction rates: Maker 1.5bps (0.015%), Taker 3.5bps (0.035%), and most of its competitors have Takers at 5bps (0.05%). If the transaction volume is large, it is still more cost-effective. Additionally, I noticed that Ondo currently offers additional rewards for trading. I thought they had already issued coins and there wouldn't be much excitement, but I didn't expect them to create a prize pool of 10 for playing Usdc. Although it's not too much, it's better than not having one at all Brothers who want to experience it can go and play. Currently, it is still invitation based, and the portal is here: https://app.ondoperps.xyz/?ref=Z3GOTB