Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0456%/8h= −49.9% APRpaid last 24h +0.173%

Price spread now: Kraken Futures against Aster−0.273%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$460.457% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.291%+$29 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.273%, 7d avg +0.021%

Together, before fees+0.518%+ Points / potential airdropAster: Stage 5 · farm board+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.293% cheaper against Aster than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.021%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.291%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.291% in total (about 15.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4528	0.0100	pay 0.0050% / 4h	1h 48m	$759K	$2.0M	20x
Short	Kraken Futures PF_ONDOUSD	0.4516	−0.0356	pay 0.0044% / 1h	48m 33s	$2.8M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.273%Rate

Funding earned: −$95.75
Price spread: −0.273% → +0.021%: −$29.34
Slippage, 4 orders: −$27.7
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$170.8
Costs to cover: 0.457%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	1.11 bp	8.5 bp −$8	38.2 bp −$382	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.43 bp	19.3 bp −$19	39.1 bp −$391	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_ONDOUSDshort	−0.0356%	1h	0.4516	−0.273%	$2.8M	$8.0M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4513	−0.331%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4515	−0.298%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4530	+0.022%	$425K	$681K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4528	long leg	$759K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4529	+0.011%	$66.7M	$219.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4527	−0.033%	$73.4M	$117.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4529	+0.011%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4507	−0.477%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4528	−0.016%	—	—	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	0.4526	−0.055%	$11.8M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4528	−0.011%	$47.8M	$44.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4524	−0.099%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4529	+0.011%	$25.6M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4528	−0.011%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4522	−0.148%	$195K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4513	−0.340%	$795K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4515	−0.303%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4515	−0.299%	$426K	$928K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4510	−0.413%	$80K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4509	−0.431%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4518	−0.232%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4521	−0.166%	$130K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4517	−0.254%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4528	−0.010%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4527	−0.037%	$403K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4520	−0.199%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4528	−0.004%	$30K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−0.563%	$1K	$181K	5.5x	as long as short
ApeX Omni ONDOUSDT	+0.0208%	1h	0.4514	−0.320%	$159K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4538	+0.210%	$300K	$847K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4521	−0.166%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4533	+0.108%	$373	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0414%	1h	0.4519	−0.210%	$19K	$364K	25x	as long as short
Lighter ONDO	+0.0496%	1h	0.4535	+0.148%	$1.4M	$2.1M	10x	as long as short
Hyperliquid ONDO	+0.0543%	1h	0.4528	−0.018%	$40.5M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4508	−0.453%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4509	−0.427%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1353%	1h	0.4522	−0.153%	$256K	$130K	5x	as long as short