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: Aster against Bybit+0.023%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.023%, 7d avg +0.088%

Together, before fees+0.098%+ Points / potential airdropAster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.065% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4514	0.0100	pay 0.0050% / 4h	1h 51m	$73.2M	$118.0M	50x
Short	Aster ONDOUSDT	0.4515	0.0100	get 0.0050% / 4h	1h 51m	$756K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.088%: −$6.46
Slippage, 4 orders: −$15.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.42
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Aster: 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 Bybit live order book, 2 min ago	1.11 bp	8.2 bp −$8	15.0 bp −$150	50.6 bp −$5,063	doesn't fit
Sell Aster live order book, 2 min ago	1.11 bp	8.5 bp −$8	27.8 bp −$278	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	−0.0357%	1h	0.4508	−0.128%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4512	−0.038%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4512	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4516	+0.044%	$424K	$682K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4515	+0.023%	$756K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4514	+0.003%	$66.4M	$220.0M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4514	long leg	$73.2M	$118.0M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4516	+0.044%	$17.6M	$79.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4542	+0.629%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4514	+0.004%	—	—	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	0.4513	−0.022%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4514	0.000%	$47.6M	$44.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4514	0.000%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4515	+0.022%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4514	0.000%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4514	−0.004%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4531	+0.379%	$793K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4516	+0.035%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4533	+0.418%	$428K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4518	+0.080%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4508	−0.133%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4512	−0.044%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4521	+0.155%	$130K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4511	−0.066%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4513	−0.012%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4515	+0.018%	$403K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4515	+0.022%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4528	+0.317%	$30K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.244%	$1K	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0193%	1h	0.4514	0.000%	$19K	$364K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4538	+0.532%	$300K	$847K	50x	as long as short
ApeX Omni ONDOUSDT	+0.0286%	1h	0.4538	+0.532%	$160K	$333K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4510	−0.089%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4519	+0.104%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0528%	1h	0.4522	+0.184%	$1.4M	$2.1M	10x	as long as short
Hyperliquid ONDO	+0.0575%	1h	0.4520	+0.142%	$40.4M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0191%	1h	0.4512	−0.037%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4517	+0.059%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1208%	1h	0.4512	−0.047%	$255K	$130K	5x	as long as short