Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0962%/8h= +105.4% APRpaid last 24h −0.134%

Price spread now: Aster against Kraken Futures−0.165%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 3 days (all we have)+0.167%+$17 · spread now −0.165%, 7d avg −0.019%

Together, before fees−0.112%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.146% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.165% now, against its 7-day average of −0.019%). If the spread goes back, that is −$15 on $10k: about 12 hours of funding at the current rate (+$29 a day). Mind the row above: over the last 7 days funding on this pair cost −0.279%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.279% in total (about -14.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4632	−0.0862	get 0.0108% / 1h	13m 42s	$2.8M	$7.9M	50x
Short	Aster ONDOUSDT	0.4624	0.0100	get 0.0050% / 4h	3h 13m	$738K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.165%Rate

Funding earned: $202.09
Price spread: −0.165% → −0.019%: −$14.65
Slippage, 4 orders: −$27.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $142.15
Costs to cover: 0.453%
Break-even: 2.1 days

Slippage from Kraken Futures: live order book, 5 min ago; Aster: live order book, 5 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 Kraken Futures live order book, 5 min ago	4.36 bp	11.5 bp −$12	26.9 bp −$269	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	2.17 bp	9.6 bp −$10	36.2 bp −$362	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_ONDOUSDlong	−0.0862%	1h	0.4632	long leg	$2.8M	$7.9M	50x
dYdX ONDO-USD	0.0000%	1h	0.4614	−0.379%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4629	−0.058%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.374%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4630	−0.036%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	−0.090%	$434K	$706K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4624	−0.165%	$738K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4620	−0.262%	$69.3M	$221.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4616	−0.338%	$74.4M	$119.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4619	−0.273%	$17.7M	$78.2M	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	0.4593	−0.826%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4621	−0.229%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4617	−0.316%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4617	−0.316%	$49.9M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4619	−0.273%	$14.3M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4617	−0.316%	$26.2M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4617	−0.316%	—	$22.1M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4608	−0.515%	$818K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	−0.608%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	−0.581%	$425K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4604	−0.597%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4629	−0.046%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4626	−0.122%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4632	+0.008%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4641	+0.202%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4627	−0.100%	$4.6M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4619	−0.274%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4616	−0.327%	$419K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4633	+0.022%	$40K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0117%	1h	0.4630	−0.029%	$233K	$999K	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4588	−0.938%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4628	−0.087%	$381	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4623	−0.187%	$300K	$820K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4613	−0.403%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0364%	1h	0.4625	−0.148%	$41.1M	$25.1M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0398%	1h	0.4632	+0.008%	$34K	$342K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0593% / S −0.0188%	1h	0.4629	−0.059%	$552K	—	100x	as long as short
Lighter ONDO	+0.0664%	1h	0.4629	−0.066%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4629	−0.052%	$2K	—	20x	as long as short