Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Aster−0.032%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 3 days (all we have)−0.192%−$19 · spread now −0.032%, 7d avg −0.046%

Together, before fees−0.386%+ Points / potential airdropAster: Stage 5 · farm board−$39 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4502	0.0100	pay 0.0050% / 4h	2h 45m	$754K	$2.0M	20x
Short	Phemex ONDOUSDT	0.4501	0.0100	get 0.0050% / 4h	2h 45m	$4.8M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → −0.046%: $1.37
Slippage, 4 orders: −$46.62
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$65.25
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Phemex: live order book, 3 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	10.5 bp −$10	40.7 bp −$407	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	6.66 bp	21.1 bp −$21	29.5 bp −$295	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	−0.1129%	1h	0.4505	+0.049%	$3.0M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4502	−0.019%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4503	+0.008%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−1.920%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4502	−0.010%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4504	+0.040%	$429K	$671K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4506	+0.085%	$40.6M	$27.4M	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4502	long leg	$754K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4502	−0.009%	$66.3M	$219.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4501	−0.032%	$72.4M	$117.1M	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	0.4504	+0.034%	$17.6M	$79.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4509	+0.141%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4503	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4498	−0.099%	$11.7M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4500	−0.054%	$47.4M	$45.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4500	−0.054%	$13.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4506	+0.079%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4500	−0.054%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4503	+0.014%	$194K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4497	−0.121%	$799K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4504	+0.038%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4503	+0.001%	$423K	$939K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4503	+0.012%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4506	+0.085%	$79K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4503	+0.012%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4502	−0.010%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4512	+0.212%	$125K	$511K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4501	−0.032%	$4.8M	$6.2M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4498	−0.099%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4502	−0.014%	$402K	$986K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4503	+0.023%	$35K	—	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0194%	1h	0.4504	+0.034%	$29K	$354K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4520	+0.390%	$304K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4507	+0.101%	$3.2M	$3.0M	75x	as long as short
Lighter ONDO	+0.0432%	1h	0.4508	+0.132%	$1.4M	$2.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0480%	1h	0.4507	+0.105%	$371	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0615% / S −0.0203%	1h	0.4502	−0.020%	$559K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4508	+0.119%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0336%	1h	0.4502	−0.010%	$255K	$117K	5x	as long as short