Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1494%/8h= −163.6% APRpaid last 24h −1.261%

Price spread now: Aster against dYdX+0.071%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$372as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1011.006% of the position

Long on dYdX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−2.717%−$272 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now +0.071%, 7d avg +0.066%

Together, before fees−2.702%+ Points / potential airdropAster: Stage 5 · farm board−$270 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$45 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ONDO-USD	0.4319	0.1594	pay 0.0199% / 1h	52m 33s	$242K	$156K	5x
Short	Aster ONDOUSDT	0.4322	0.0100	get 0.0050% / 4h	52m 33s	$775K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$313.83
Price spread: +0.071% → +0.066%: $0.5
Slippage, 4 orders: −$82.62
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$413.95
Costs to cover: 1.006%
Break-even: never at this rate

Slippage from dYdX: live order book, 52 min ago; Aster: live order book, 1 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 dYdX live order book, 52 min ago	33.44 bp	38.4 bp −$38	38.4 bp −$384	136.2 bp −$13.6K	708.6 bp −$354.3K
Sell Aster live order book, 1 min ago	1.16 bp	9.9 bp −$10	28.9 bp −$289	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	−0.0176%	1h	0.4317	−0.050%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4318	−0.027%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4317	−0.051%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.761%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4327	+0.174%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4322	+0.071%	$347K	$887K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4322	+0.071%	$775K	$2.7M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4322	+0.057%	$62.5M	$233.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4320	+0.019%	$67.8M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4323	+0.088%	$17.2M	$71.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4312	−0.162%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4320	+0.014%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4319	−0.004%	$12.7M	$15.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	−0.004%	$43.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4318	−0.027%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4322	+0.065%	$24.6M	$36.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4320	+0.019%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	+0.035%	$177K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4309	−0.243%	$727K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4320	+0.030%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4326	+0.166%	$398K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4320	+0.019%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	+0.091%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4316	−0.074%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4317	−0.050%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4319	−0.004%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4327	+0.181%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4319	−0.004%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4319	−0.012%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4317	−0.048%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4319	−0.004%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4322	+0.061%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4328	+0.204%	$214K	$731K	50x	as long as short
Hyperliquid ONDO	+0.0291%	1h	0.4326	+0.169%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4320	+0.019%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4320	+0.019%	$3.1M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4317	−0.060%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4323	+0.088%	$2K	—	20x	as long as short
dYdX ONDO-USDlong	+0.1594%	1h	0.4319	long leg	$242K	$156K	5x