Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1058%/8h= +115.9% APRpaid last 24h +0.303%

Price spread now: Reya against Aster−0.112%56s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

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 airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.112% cheaper against Aster than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9 hours of funding at the current rate (+$32 a day). The two prices were read 56 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	0.4324	0.0100	pay 0.0050% / 4h	1h 29m	$775K	$2.7M	20x
Short	Reya ONDORUSDPERP	0.4319	0.1158	get 0.0145% / 1h	29m 28s	$2K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.112%Rate

Funding earned: $222.18
Price spread: −0.112% → 0.000%: −$11.25
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $196.94
Costs to cover: 0.140%
Break-even: 0.8 days

Slippage unknown: Aster: live order book, 4 min ago; Reya: 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, 4 min ago	1.16 bp	8.5 bp −$9	48.9 bp −$489	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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	−0.0147%	1h	0.4318	−0.124%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4313	−0.247%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0005%	1h	0.4314	−0.216%	$242K	$141K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.652%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4324	+0.018%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4320	−0.084%	$347K	$897K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4324	long leg	$775K	$2.7M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4323	−0.014%	$62.6M	$236.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4322	−0.037%	$67.6M	$124.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4321	−0.061%	$17.2M	$72.5M	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	0.4306	−0.405%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4314	−0.223%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4321	−0.061%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	−0.014%	$43.0M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4320	−0.084%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4320	−0.084%	$24.7M	$38.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4323	−0.014%	—	$774K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4320	−0.086%	$171K	$994K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4313	−0.252%	$665K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4313	−0.242%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4315	−0.197%	$408K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4317	−0.153%	$132K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4323	−0.007%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.107%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4316	−0.176%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4320	−0.084%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4324	+0.009%	$128K	$403K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	−0.084%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4323	−0.021%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4322	−0.038%	$391K	$786K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4321	−0.049%	$37K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0108%	1h	0.4324	+0.002%	$36.2M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4324	+0.011%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4327	+0.078%	$214K	$726K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4318	−0.123%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4316	−0.176%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0445%	1h	0.4322	−0.037%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4313	−0.257%	$485K	—	100x	as long as short
Reya ONDORUSDPERPshort	+0.1158%	1h	0.4319	−0.112%	$2K	—	20x