Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1041%/8h= +114.0% APRpaid last 24h +0.304%

Price spread now: Reya against Aster+0.055%7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Reya is 0.055% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history 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 22m	$736K	$2.1M	20x
Short	Reya ONDORUSDPERP	0.4605	0.1141	get 0.0143% / 1h	22m 30s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.055%Rate

Funding earned: $218.61
Price spread: +0.055% → 0.000%: $5.51
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $210.12
Costs to cover: 0.140%
Break-even: 0.3 days

Slippage unknown: Aster: live order book, 1 min ago; Reya: 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, 1 min ago	1.09 bp	9.1 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0351%	1h	0.4583	−0.436%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4605	+0.051%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4605	+0.047%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4601	−0.029%	$434K	$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	+0.111%	$68.2M	$226.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4607	+0.090%	$75.8M	$121.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4606	+0.069%	$18.0M	$82.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	−0.329%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4603	+0.007%	—	—	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	0.4604	+0.025%	$12.0M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4605	+0.047%	$49.5M	$44.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4604	+0.025%	$13.9M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4605	+0.047%	$26.1M	$41.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4606	+0.069%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4570	−0.715%	$781K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4578	−0.545%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4578	−0.545%	$429K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4578	−0.540%	$164K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4606	+0.060%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4590	−0.279%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4586	−0.366%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4592	−0.236%	$134K	$506K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4584	−0.409%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4604	+0.016%	$7K	$9	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0102%	1h	0.4587	−0.340%	$239K	$1.0M	15x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4603	+0.006%	$411K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4589	−0.301%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4576	−0.581%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.757%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0186%	1h	0.4587	−0.344%	$47K	$416K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4590	−0.279%	$301K	$871K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4585	−0.388%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4610	+0.149%	$379	$2K	10x	as long as short
Hyperliquid ONDO	+0.0421%	1h	0.4610	+0.147%	$41.4M	$26.4M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0187%	1h	0.4605	+0.042%	$549K	—	100x	as long as short
Lighter ONDO	+0.0680%	1h	0.4608	+0.123%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPshort	+0.1141%	1h	0.4605	+0.055%	$2K	—	20x
dYdX ONDO-USD	+0.3691%	1h	0.4600	−0.064%	$260K	$129K	5x	as long as short