Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +1.616%

Price spread now: dYdX against Aster+0.048%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$305as in the Price arb table

costs, in and out, $10k−$3173.166% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.711%+$271 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.048%, 7d avg −0.064%

Together, before fees+2.577%+ Points / potential airdropAster: Stage 5 · farm board+$258 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.112% dearer against Aster than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.064%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.7 days. Mind the row above: over the last 7 days funding on this pair paid +2.711%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4419	0.0100	pay 0.0050% / 4h	2h 42m	$688K	$2.2M	20x
Short	dYdX ONDO-USD	0.4421	0	get 0.0000% / 1h	42m 12s	$250K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$21
Price spread: +0.048% → −0.064%: $11.21
Slippage, 4 orders: −$298.56
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$326.35
Costs to cover: 3.166%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; dYdX: live order book, 27 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, 1 min ago	2.26 bp	9.2 bp −$9	45.3 bp −$453	doesn't fit	doesn't fit
Sell dYdX live order book, 27 min ago	130.76 bp	162.4 bp −$162	318.4 bp −$3,184	944.8 bp −$94.5K	1836.8 bp −$918.4K

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	−0.0363%	1h	0.4397	−0.498%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USDshort	0.0000%	1h	0.4421	+0.048%	$250K	$130K	5x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0007%	1h	0.4417	−0.049%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.368%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4417	−0.049%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4419	−0.004%	$399K	$829K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4419	long leg	$688K	$2.2M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4408	−0.264%	$64.8M	$229.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4412	−0.162%	$70.9M	$124.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4414	−0.117%	$17.0M	$76.5M	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	0.4450	+0.707%	$73K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4421	+0.032%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4417	−0.049%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4414	−0.117%	$44.2M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4418	−0.026%	$13.4M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4414	−0.117%	$25.0M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4415	−0.094%	—	$22.3M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4414	−0.110%	$200K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4446	+0.603%	$791K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4458	+0.880%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4437	+0.404%	$409K	$962K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4459	+0.902%	$165K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4423	+0.089%	$77K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4420	+0.019%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4402	−0.388%	$458	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4412	−0.162%	$129K	$514K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4424	+0.104%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4419	+0.006%	$398K	$816K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4420	+0.027%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0203%	1h	0.4419	−0.004%	$23K	$349K	25x	as long as short
Hyperliquid ONDO	+0.0259%	1h	0.4426	+0.148%	$39.1M	$25.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4413	−0.139%	$285K	$790K	50x	as long as short
01 Exchange ONDOUSD	+0.0336%	1h	0.4425	+0.141%	$364	$2K	10x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4452	+0.743%	$36K	$231K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4471	+1.173%	$3.2M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0552% / S −0.0190%	1h	0.4416	−0.072%	$488K	—	100x	as long as short
Lighter ONDO	+0.0720%	1h	0.4415	−0.085%	$1.4M	$2.1M	10x	as long as short
Phemex ONDOUSDT	+0.0756%	4h	0.4408	−0.252%	$4.2M	$7.3M	50x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4422	+0.059%	$2K	—	20x	as long as short