Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.136%

Price spread now: Coinbase International against Aster−0.101%7-day average +0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs+$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$570.575% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.753%+$75 on $10k

Price spread, last 3 days (all we have)+0.276%+$28 · spread now −0.101%, 7d avg +0.174%

Together, before fees+1.029%+ Points / potential airdropAster: Stage 5 · farm board+$103 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.276% cheaper against Aster than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of +0.174%). If the spread goes back, that is −$28 on $10k: about 5.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4632	0.0100	pay 0.0050% / 4h	3h 35m	$731K	$2.2M	20x
Short	Coinbase International ONDO-PERP-INTX	0.4627	0.0280	get 0.0035% / 1h	35m 15s	$300K	$828K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.101%Rate

Funding earned: $37.8
Price spread: −0.101% → +0.174%: −$27.56
Slippage, 4 orders: −$39.47
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$47.24
Costs to cover: 0.575%
Break-even: 15.7 days

Slippage from Aster: live order book, 3 min ago; Coinbase International: live order book, 38 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 Aster live order book, 3 min ago	1.09 bp	10.0 bp −$10	41.6 bp −$416	doesn't fit	doesn't fit
Sell Coinbase International live order book, 38 min ago	8.77 bp	13.8 bp −$14	41.9 bp −$419	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	−0.0862%	1h	0.4632	+0.005%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4625	−0.137%	$262K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4627	−0.099%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.375%	$888	$216K	5.5x	as long as short
Gate ONDO_USDT	+0.0094%	4h	0.4629	−0.058%	$12.1M	$16.6M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4628	−0.080%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4627	−0.101%	$434K	$710K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4632	long leg	$731K	$2.2M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4634	+0.052%	$69.4M	$225.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4632	+0.007%	$75.1M	$120.2M	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	0.4629	−0.058%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4622	−0.212%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4624	−0.171%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4632	+0.007%	$50.2M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4633	+0.028%	$14.3M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4630	−0.037%	$26.2M	$39.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4630	−0.037%	—	$22.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4632	+0.011%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4615	−0.365%	$820K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4577	−1.184%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4573	−1.260%	$423K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4606	−0.555%	$174K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4631	−0.011%	$73K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4632	+0.007%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4632	+0.007%	$481	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4635	+0.071%	$136K	$497K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4631	−0.015%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4628	−0.082%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4632	+0.013%	$412K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4634	+0.040%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0228%	1h	0.4635	+0.069%	$41.2M	$25.4M	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4578	−1.157%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4631	−0.011%	$381	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXshort	+0.0280%	1h	0.4627	−0.101%	$300K	$828K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4632	+0.007%	$3.3M	$2.9M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0398%	1h	0.4630	−0.037%	$34K	$363K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0188%	1h	0.4628	−0.090%	$552K	—	100x	as long as short
Lighter ONDO	+0.0600%	1h	0.4642	+0.216%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4627	−0.107%	$2K	—	20x	as long as short