Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.249%

Price spread now: Injective against Aster+5.741%47s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.433%−$343 on $10k

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

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

The price spread pays, funding is against you. Injective is 5.741% dearer against Aster than usual: you sell high and buy low (spread +5.741% now, against zero (this spread has no 7-day history yet)): +$574 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 10 months. At the pace of the last 7 days (−3.433% in total) that is about 12 days. The two prices were read 47 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	Aster ONDOUSDT	0.4320	0.0100	pay 0.0050% / 4h	14m 34s	$756K	$2.8M	20x
Short	Injective ONDO/USDC PERP	0.4568	0.0033	get 0.0004% / 1h	14m 34s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +5.741%Rate

Funding earned: −$14
Price spread: +5.741% → 0.000%: $574.11
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $552.09
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 4 min ago; Injective: no order-book sample. 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 Aster live order book, 4 min ago	1.16 bp	9.9 bp −$10	43.3 bp −$433	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0176%	1h	0.4311	−0.207%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4311	−0.207%	$7K	—	150x	as long as short
Injective ONDO/USDC PERPshort	+0.0033%	1h	0.4568	+5.741%	$888	$216K	5.5x
Lighter ONDO	+0.0096%	1h	0.4322	+0.049%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4318	−0.040%	$345K	$886K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4320	long leg	$756K	$2.8M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4319	−0.022%	$62.9M	$234.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4317	−0.069%	$68.0M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4320	0.000%	$17.3M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4324	+0.081%	$71K	$80K	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	0.4317	−0.071%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4316	−0.092%	$12.9M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4318	−0.046%	$43.9M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4317	−0.069%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	−0.023%	$24.6M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4318	−0.046%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	−0.111%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4314	−0.142%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4315	−0.108%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4314	−0.139%	$400K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	−0.231%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4320	+0.005%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4312	−0.185%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4315	−0.115%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4314	−0.139%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4323	+0.070%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4314	−0.139%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4319	−0.021%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4317	−0.058%	$358K	$812K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4315	−0.115%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4313	−0.162%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4319	−0.014%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4309	−0.254%	$213K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4317	−0.060%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4315	−0.115%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0374%	1h	0.4324	+0.086%	$36.5M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4311	−0.207%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4312	−0.189%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1697%	1h	0.4314	−0.140%	$242K	$156K	5x	as long as short