Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Aevo+0.025%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.025% dearer against Aevo than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ONDO-PERP	0.4545	0.0104	pay 0.0013% / 1h	34m 09s	$44K	$8K	3x
Short	Aster ONDOUSDT	0.4546	0.0100	get 0.0050% / 4h	34m 09s	$720K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$0.84
Price spread: +0.025% → 0.000%: $2.55
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$22.29
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 4 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	1.10 bp	9.8 bp −$10	33.5 bp −$335	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0803%	1h	0.4540	−0.094%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.517%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4542	−0.065%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4541	−0.077%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4541	−0.072%	$437K	$710K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4546	+0.025%	$720K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4543	−0.033%	$68.0M	$228.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4541	−0.077%	$73.6M	$123.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4542	−0.055%	$17.6M	$80.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.009%	$74K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4544	−0.012%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4539	−0.121%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4542	−0.055%	$48.8M	$43.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4543	−0.033%	$14.0M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4542	−0.055%	$25.7M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4542	−0.055%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4544	−0.007%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4545	+0.011%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	+0.141%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4551	+0.143%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	+0.187%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4545	+0.013%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4543	−0.033%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4542	−0.055%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4557	+0.275%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4544	−0.011%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4546	+0.032%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4541	−0.082%	$407K	$843K	25x	as long as short
Aevo ONDO-PERPlong	+0.0104%	1h	0.4545	long leg	$44K	$8K	3x
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4543	−0.033%	$35K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0241%	1h	0.4545	+0.013%	$40.2M	$26.6M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4555	+0.222%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4545	+0.011%	$297K	$850K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4547	+0.055%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4548	+0.068%	$374	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4541	−0.084%	$542K	—	100x	as long as short
Lighter ONDO	+0.0816%	1h	0.4551	+0.150%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4542	−0.056%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4379%	1h	0.4546	+0.038%	$257K	$132K	5x	as long as short