Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Aster against Orderly+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 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 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.037% dearer against Orderly than usual: you sell high and buy low, +$4 on $10k if it 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	Orderly PERP_ONDO_USDC	0.4330	0.0100	pay 0.0050% / 4h	1h 43m	$23K	$6K	10x
Short	Aster ONDOUSDT	0.4332	0.0100	get 0.0050% / 4h	1h 43m	$775K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Orderly. 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 OrderlybpFee AsterbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → 0.000%: $3.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$10.26
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Aster: live order book, 5 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	1.15 bp	9.2 bp −$9	30.2 bp −$302	doesn't fit	doesn't fit

Orderly: 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	−0.0146%	1h	0.4327	−0.060%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4329	−0.013%	$243K	$137K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4330	0.000%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4331	+0.026%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.497%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4332	+0.048%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4333	+0.058%	$348K	$897K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4332	+0.037%	$775K	$2.7M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4329	−0.021%	$62.8M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4329	−0.023%	$67.4M	$126.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4329	−0.023%	$17.2M	$73.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4326	−0.095%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4332	+0.054%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4330	0.000%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.023%	$42.9M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4332	+0.046%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4330	0.000%	$24.8M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4332	+0.046%	—	$762K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4329	−0.014%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.144%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.020%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	+0.038%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	+0.023%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4334	+0.088%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDClong	+0.0100%	4h	0.4330	long leg	$23K	$6K	10x
SunX ONDO-USDT	+0.0100%	4h	0.4333	+0.069%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4330	0.000%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4343	+0.300%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4328	−0.046%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4327	−0.077%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4330	−0.010%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4330	0.000%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4333	+0.076%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4339	+0.208%	$214K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0286%	1h	0.4334	+0.092%	$36.3M	$27.3M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4331	+0.030%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4327	−0.069%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4331	+0.025%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4331	+0.017%	$2K	—	20x	as long as short