Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.151%

Price spread now: Coinbase International against Aster+0.066%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs+$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.760%+$76 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now +0.066%, 7d avg +0.179%

Together, before fees+0.708%+ Points / potential airdropAster: Stage 5 · farm board+$71 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.113% cheaper against Aster than usual: you would sell low and buy high (spread +0.066% now, against its 7-day average of +0.179%). If the spread goes back, that is −$11 on $10k: about 2.1 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.760% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4535	0.0100	pay 0.0050% / 4h	1h 55m	$763K	$2.0M	20x
Short	Coinbase International ONDO-PERP-INTX	0.4538	0.0280	get 0.0035% / 1h	55m 09s	$300K	$847K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.066%Rate

Funding earned: $37.8
Price spread: +0.066% → +0.179%: −$11.29
Slippage, 4 orders: −$40.98
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.47
Costs to cover: 0.590%
Break-even: 13.0 days

Slippage from Aster: live order book, 3 min ago; Coinbase International: live order book, 28 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 Aster live order book, 3 min ago	1.11 bp	10.4 bp −$10	44.8 bp −$448	doesn't fit	doesn't fit
Sell Coinbase International live order book, 28 min ago	5.53 bp	28.0 bp −$28	72.3 bp −$723	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	−0.0355%	1h	0.4530	−0.110%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4535	0.000%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4532	−0.057%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4524	−0.236%	$29K	$219K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4532	−0.066%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4536	+0.033%	$426K	$682K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4535	long leg	$763K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4534	−0.022%	$66.8M	$220.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4533	−0.044%	$73.5M	$118.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4533	−0.044%	$17.7M	$80.1M	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	0.4515	−0.432%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4534	−0.012%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4532	−0.066%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4533	−0.044%	$48.0M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4533	−0.044%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4535	0.000%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4533	−0.044%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4531	−0.088%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4531	−0.086%	$793K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4510	−0.558%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4525	−0.222%	$427K	$937K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.040%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	+0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4534	−0.022%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4540	+0.110%	$130K	$510K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4531	−0.088%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4535	−0.010%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4533	−0.049%	$403K	$856K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4536	+0.022%	$44K	$8K	3x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.706%	$1K	$181K	5.5x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4538	+0.066%	$300K	$847K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4533	−0.044%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4540	+0.106%	$374	$2K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0387%	1h	0.4526	−0.198%	$160K	$333K	50x	as long as short
Lighter ONDO	+0.0552%	1h	0.4542	+0.150%	$1.4M	$2.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0191%	1h	0.4533	−0.055%	$546K	—	100x	as long as short
Hyperliquid ONDO	+0.0689%	1h	0.4539	+0.086%	$40.6M	$27.7M	10x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4537	+0.036%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1392%	1h	0.4530	−0.104%	$256K	$130K	5x	as long as short