Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1040%/8h= −113.9% APRpaid last 24h −0.304%

Price spread now: Aster against Reya+0.080%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.080% dearer against Reya than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4548	0.1140	pay 0.0143% / 1h	42m 06s	$2K	—	20x
Short	Aster ONDOUSDT	0.4552	0.0100	get 0.0050% / 4h	1h 42m	$751K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$218.46
Price spread: +0.080% → 0.000%: $8.01
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$224.45
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 1 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 1 min ago	2.19 bp	7.8 bp −$8	34.7 bp −$347	doesn't fit	doesn't fit

Reya: 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	−0.0354%	1h	0.4545	−0.080%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4546	−0.041%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4547	−0.030%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4550	+0.025%	$427K	$680K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4552	+0.080%	$751K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4549	+0.022%	$67.0M	$219.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4548	−0.008%	$73.8M	$117.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4546	−0.052%	$17.8M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4543	−0.107%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4549	+0.007%	—	—	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	0.4548	−0.008%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.008%	$48.0M	$44.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4549	+0.014%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4549	+0.014%	$25.7M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4548	−0.008%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	+0.034%	$196K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4533	−0.336%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4551	+0.048%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4552	+0.082%	$421K	$941K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4549	+0.016%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4551	+0.058%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4549	+0.014%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4558	+0.212%	$131K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4547	−0.030%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4549	+0.006%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4548	+0.002%	$403K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4552	+0.080%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4552	+0.089%	$30K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.997%	$1K	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4550	+0.036%	$19K	$364K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0273%	1h	0.4556	+0.168%	$161K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4557	+0.190%	$301K	$854K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4552	+0.080%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4554	+0.128%	$375	$2K	10x	as long as short
Hyperliquid ONDO	+0.0495%	1h	0.4554	+0.120%	$40.7M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0191%	1h	0.4547	−0.034%	$547K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4557	+0.188%	$1.4M	$2.1M	10x	as long as short
dYdX ONDO-USD	+0.1048%	1h	0.4548	+0.002%	$257K	$130K	5x	as long as short
Reya ONDORUSDPERPlong	+0.1140%	1h	0.4548	long leg	$2K	—	20x