Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h −0.066%

Price spread now: Aster against Hyperliquid+0.023%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 7 days−0.067%−$7 · spread now +0.023%, 7d avg −0.028%

Together, before fees−0.366%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.051% dearer against Hyperliquid than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.028%. Mind the row above: over the last 7 days funding on this pair cost −0.299%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4362	0.0100	pay 0.0013% / 1h	57m 49s	$37.5M	$24.5M	10x
Short	Aster ONDOUSDT	0.4363	0.0196	get 0.0098% / 4h	57m 49s	$731K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.023%Rate

Funding earned: $20.16
Price spread: +0.023% → −0.028%: $5.08
Slippage, 4 orders: −$15.31
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$7.07
Costs to cover: 0.323%
Break-even: 9.5 days

Slippage from Hyperliquid: live order book, 5 min ago; Aster: live order book, 6 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 Hyperliquid live order book, 5 min ago	0.11 bp	7.2 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	1.14 bp	11.6 bp −$12	41.6 bp −$416	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
dYdX ONDO-USD	0.0000%	1h	0.4360	−0.039%	$247K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4376	+0.324%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4377	+0.333%	$2.6M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.723%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4376	+0.321%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4377	+0.355%	$371K	$838K	10x	as long as short
Hyperliquid ONDOlong	+0.0100%	1h	0.4362	long leg	$37.5M	$24.5M	10x
Binance ONDOUSDT	+0.0100%	4h	0.4361	−0.024%	$63.3M	$227.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4358	−0.092%	$69.0M	$123.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4357	−0.115%	$16.9M	$71.0M	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	0.4396	+0.770%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4379	+0.380%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4358	−0.092%	$11.5M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4359	−0.069%	$46.9M	$40.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4364	+0.046%	$12.8M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4360	−0.046%	$24.9M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4361	−0.023%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4370	+0.183%	$188K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4380	+0.404%	$710K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4381	+0.443%	$4K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4385	+0.516%	$413K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4380	+0.413%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4378	+0.371%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4379	+0.390%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4378	+0.367%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4390	+0.642%	$129K	$474K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4376	+0.321%	$4.2M	$7.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4357	−0.105%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4358	−0.086%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4380	+0.403%	$38K	$13K	3x	as long as short
Aster ONDOUSDTshort	+0.0196%	4h	0.4363	+0.023%	$731K	$2.3M	20x
Deribit ONDO_USDC-PERPETUAL	+0.0207%	1h	0.4378	+0.367%	$23K	$346K	25x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4386	+0.552%	$35K	$221K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4380	+0.422%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4389	+0.619%	$280K	$713K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4389	+0.619%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0549% / S −0.0190%	1h	0.4375	+0.304%	$483K	—	100x	as long as short
Lighter ONDO	+0.0576%	1h	0.4370	+0.172%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4377	+0.350%	$2K	—	20x	as long as short