Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.095%

Price spread now: Hyperliquid against Aster+0.071%7-day average +0.051% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.288%+$29 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.071%, 7d avg +0.051%

Together, before fees+0.346%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.051%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4538	0.0100	pay 0.0050% / 4h	2h 18m	$763K	$2.0M	20x
Short	Hyperliquid ONDO	0.4541	0.0264	get 0.0033% / 1h	18m 35s	$40.6M	$27.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.071%Rate

Funding earned: $34.47
Price spread: +0.071% → +0.051%: $1.95
Slippage, 4 orders: −$18.61
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $0.81
Costs to cover: 0.356%
Break-even: 6.8 days

Slippage from Aster: live order book, 5 min ago; Hyperliquid: live order book, 5 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, 5 min ago	4.42 bp	11.2 bp −$11	46.9 bp −$469	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.44 bp	8.5 bp −$8	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	−0.1122%	1h	0.4532	−0.140%	$2.9M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4536	−0.044%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4536	−0.055%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4539	+0.031%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.353%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4533	−0.110%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4535	−0.055%	$427K	$677K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4538	long leg	$763K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4536	−0.045%	$67.0M	$220.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4536	−0.044%	$73.6M	$118.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4536	−0.044%	$17.8M	$80.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4524	−0.302%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4536	−0.037%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4534	−0.088%	$11.8M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4534	−0.088%	$47.7M	$45.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4533	−0.110%	$13.6M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4536	−0.044%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4535	−0.066%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4535	−0.057%	$194K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4537	−0.017%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4537	−0.027%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4521	−0.374%	$427K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4541	+0.066%	$160K	$331K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	−0.020%	$104K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4538	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4535	−0.066%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4543	+0.110%	$128K	$520K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4534	−0.088%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4534	−0.095%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4534	−0.087%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4537	−0.023%	$36K	—	3x	as long as short
Hyperliquid ONDOshort	+0.0264%	1h	0.4541	+0.071%	$40.6M	$27.8M	10x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.022%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4538	0.000%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4540	+0.044%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0552%	1h	0.4543	+0.110%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0618% / S −0.0203%	1h	0.4537	−0.032%	$564K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4537	−0.026%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9336%	1h	0.4536	−0.048%	$257K	$128K	5x	as long as short