Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h −0.741%

Price spread now: Injective against Aster−1.000%57s7-day average −1.025% · you buy dearer than you sell

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.413%−$341 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −1.000%, 7d avg −1.025%

Together, before fees−3.215%+ Points / potential airdropAster: Stage 5 · farm board−$321 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.026% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −1.025%. Mind the row above: over the last 7 days funding on this pair cost −3.413%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4614	0.0100	pay 0.0050% / 4h	1h 20m	$737K	$2.1M	20x
Short	Injective ONDO/USDC PERP	0.4568	0.0151	get 0.0019% / 1h	20m 29s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.000%Rate

Funding earned: $10.61
Price spread: −1.000% → −1.025%: $2.56
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $5.16
Costs to cover: 0.080%
Break-even: 3.6 days

Slippage unknown: Aster: live order book, 3 min ago; Injective: no order-book sample. 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 Aster live order book, 3 min ago	1.09 bp	9.1 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0349%	1h	0.4602	−0.256%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4615	+0.022%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4614	−0.003%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4616	+0.046%	$436K	$703K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4614	long leg	$737K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4617	+0.062%	$68.4M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4616	+0.041%	$75.9M	$121.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4614	−0.003%	$18.0M	$82.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	−0.573%	$75K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4616	+0.033%	—	—	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	0.4615	+0.019%	$12.1M	$18.5M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4616	+0.041%	$49.8M	$44.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4616	+0.041%	$14.0M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4617	+0.062%	$26.2M	$41.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4617	+0.062%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4570	−0.958%	$781K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4578	−0.789%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4578	−0.788%	$429K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4578	−0.783%	$164K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4618	+0.082%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4604	−0.219%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4606	−0.176%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4613	−0.024%	$134K	$510K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4603	−0.241%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4613	−0.030%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4616	+0.043%	$411K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4606	−0.187%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0117%	1h	0.4605	−0.209%	$237K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4608	−0.122%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERPshort	+0.0151%	1h	0.4568	−1.000%	$888	$216K	5.5x
Deribit ONDO_USDC-PERPETUAL	+0.0184%	1h	0.4605	−0.198%	$43K	$421K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4609	−0.111%	$302K	$876K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4602	−0.263%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4621	+0.153%	$380	$2K	10x	as long as short
Hyperliquid ONDO	+0.0420%	1h	0.4621	+0.153%	$41.4M	$26.4M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0187%	1h	0.4616	+0.037%	$550K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4620	+0.134%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4617	+0.054%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3923%	1h	0.4607	−0.146%	$261K	$129K	5x	as long as short