Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0449%/8h= −49.2% APRpaid last 24h +0.173%

Price spread now: Kraken Futures against Aster−0.012%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.291%+$29 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.012%, 7d avg +0.021%

Together, before fees+0.257%+ Points / potential airdropAster: Stage 5 · farm board+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.032% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.021%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.291%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.291% in total (about 15.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4603	0.0100	pay 0.0050% / 4h	1h 21m	$736K	$2.1M	20x
Short	Kraken Futures PF_ONDOUSD	0.4603	−0.0349	pay 0.0044% / 1h	21m 27s	$2.8M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$94.34
Price spread: −0.012% → +0.021%: −$3.24
Slippage, 4 orders: −$27
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$142.59
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	1.09 bp	9.1 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.37 bp	17.2 bp −$17	32.1 bp −$321	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_ONDOUSDshort	−0.0349%	1h	0.4603	−0.012%	$2.8M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4605	+0.038%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4605	+0.034%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4607	+0.078%	$435K	$701K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4603	long leg	$736K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4608	+0.100%	$68.2M	$226.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4605	+0.034%	$75.7M	$121.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4603	−0.009%	$18.0M	$82.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	−0.341%	$75K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4606	+0.060%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4605	+0.034%	$12.0M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4607	+0.078%	$49.6M	$44.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4603	−0.009%	$13.9M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4606	+0.056%	$26.1M	$41.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4607	+0.078%	—	$22.6M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4570	−0.727%	$781K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4578	−0.558%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4578	−0.557%	$429K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4578	−0.552%	$164K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4606	+0.054%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4606	+0.056%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4608	+0.100%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4618	+0.317%	$134K	$510K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4605	+0.034%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4608	+0.090%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4608	+0.091%	$411K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4608	+0.110%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0109%	1h	0.4607	+0.076%	$237K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4608	+0.110%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.769%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4607	+0.078%	$43K	$421K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4592	−0.248%	$301K	$872K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4585	−0.400%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4612	+0.182%	$380	$2K	10x	as long as short
Hyperliquid ONDO	+0.0419%	1h	0.4610	+0.147%	$41.3M	$26.4M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0187%	1h	0.4605	+0.029%	$549K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4614	+0.236%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4604	+0.010%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3802%	1h	0.4599	−0.097%	$260K	$129K	5x	as long as short